Labour Party 2023 Presidential Candidate Mr. Peter Obi Blames Fuel Price Hikes on Poor Planning
Labour Party 2023 Presidential Candidate Mr. Peter Obi Blames Fuel Price Hikes on Poor Planning
Former presidential candidate Peter Obi, says Nigeria’s recent increase in petrol and diesel prices is due to poor strategic planning.
Obi said this in a statement this Thursday, warning that external shocks such as the ongoing US–Iran conflict easily affect Nigeria’s fuel prices.
He noted that petrol, which sold for less than ₦1,000 per litre weeks ago, now costs over ₦1,200, while diesel has risen above ₦1,500 per litre.
Obi said countries with strategic petroleum reserves can cushion such shocks, but Nigeria remains vulnerable because it lacks such buffers.
He therefore called for long-term planning and structural reforms to protect the economy from sudden fuel price increases.
