Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has blamed the worsening economic hardship in the country on the major reforms of President Bola Tinubu’s administration, namely the removal of fuel subsidy, the floating of the naira and tax reforms.
In a statement, Obi said the implementation of the policies had driven up prices, forced businesses to close, increased unemployment and lowered living standards.
He also criticised the federal government’s 30-day petrol discount, describing it as a “political gimmick” that offers little relief to Nigerians struggling with the high cost of living.
The former Anambra State governor argued that the government should pursue policies that bring down the cost of living instead of short-term measures that would lapse without addressing the root causes of the crisis.
According to him, the discount will be available at about 900 retail outlets of the Nigerian National Petroleum Company Limited (NNPCL), out of an estimated 24,000 filling stations nationwide. This, he said, means fewer than four per cent of stations will offer it, raising doubts about how millions of Nigerians will access the relief.
Using a national population of about 243 million, Obi estimated that each NNPC station would serve roughly 243,000 people if the outlets were evenly distributed. He warned that this could trigger fierce competition among motorists for a discount of about N66 per litre, especially in areas with few NNPC stations.
“Imagine 243,000 Nigerians struggling for a N66 per litre discount in each of the NNPC petrol stations. This is certainly not how to govern a richly blessed and endowed nation!” he said.
Obi also questioned the timing of the initiative, asking why the government introduced a temporary discount after Nigerians had endured years of hardship following subsidy removal. He wondered whether it was meant to test the restoration of fuel subsidy or to sway public opinion ahead of the 2027 general election.
“What really does the President Bola Tinubu-led government want to achieve with a one-month discount of less than five per cent on fuel cost? Will it reduce poverty, unemployment, insecurity, and inequality? Will it increase productivity and exports?
“Is it a test to ascertain if subsidy should be restored? Is it another political gambit in the face of threats of electoral loss in the 2027 election? Too many questions, no answer!” he said.
He maintained that the policy ignored the wider effects of rising petrol prices, including poverty, unemployment, insecurity and the increasing cost of goods and services.
Obi reiterated his call for the restoration of fuel subsidy, alongside increased support for agriculture, healthcare, education and infrastructure. He said such interventions should operate within a transparent and accountable framework so that public resources benefit Nigerians and are not lost to corruption.
He added that the government should have carried out a detailed regulatory impact assessment and consulted stakeholders before rolling out major economic policies.
Obi promised to release a more detailed policy roadmap on what he called fair, transparent and affordable petroleum pricing, stressing that Nigeria needs leadership focused on lowering the cost of living through sustainable policies and accountable governance.
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