Former Anambra State Governor Peter Obi has described Federal Government announcement of 30-day discount on petrol price as reactive and confused approach to governance under President Bola Tinubu administration.
In a statement posted on his X handle on Sunday, Obi said announcement aimed at relieving hardship caused by unplanned subsidy removal was substitution of political optics for sound policy, adding he delayed reaction to assess outcome.
He recalled President Tinubu on May 29, 2023 removed fuel subsidy without consultation or assessment of impact on economy and livelihoods, followed by badly sequenced policies including floating of naira and tax reforms implemented in disorganized manner with three budgets running concurrently, lacking transparency and accountability.
According to him, policies stoked inflation, price hikes and severe shocks on Nigerians, leading to multidimensional poverty, rising costs, shrinking opportunities, exit of businesses, unemployment, insecurity, inequality, migration of youths and general decline in wellbeing.
Obi said rather than conduct detailed and published regulatory impact assessment, government demonstrated incompetence and insensitivity, noting competent government would pursue robust engagement with stakeholders to recraft inclusive and sustainable growth strategies.
He questioned what government wants to achieve with less than 5 percent discount for one month, asking whether it will reduce poverty, unemployment, insecurity and inequality or increase productivity and exports, or if it is test for restoring subsidy or political gambit ahead of 2027 election.
Federal Government had said discount will be obtainable at about 900 NNPC Retail stations out of estimated 24,000 stations nationwide, representing less than 4 percent, with priority to public transport operators.
Obi noted with population of about 243 million, one NNPC Retail station serves about 243,000 Nigerians assuming even distribution, which is not case, wondering how 243,000 Nigerians would struggle for N66 per litre discount per station.
He said research on current revenue and revenue potential in productive Nigeria under incorrupt, transparent and competent government affirms his position that subsidy should be restored not only on petrol but also on agriculture, health, education and infrastructure.
He added that beyond subsidy, Nigeria needs leadership focused on policies that drastically reduce cost of living through welfare enhancing pricing and honest administration, describing October 1 announcement as political optics masked as policy and calling for real change.
