Presidential candidate of Nigeria Democratic Congress (NDC), Peter Obi, yesterday, blamed President Bola Tinubu's major reforms, including the removal of fuel subsidy, floating of the naira, and tax reforms for the worsening hardship in the country.
Obi said implementation of the different reforms had contributed to rising prices, business closures, unemployment, and declining living standards.
He also criticised the federal government's 30-day petrol discount, stating that the initiative covers less than four per cent of the filling stations nationwide and offered inadequate relief to Nigerians struggling with high living costs.
Obi, in a statement, maintained that the government should focus on policies capable of reducing the cost of living rather than introducing short-term measures that would expire without resolving the underlying problems.
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The former governor of Anambra State also reiterated his position that fuel subsidy should be restored alongside support for agriculture, healthcare, education, and infrastructure.
He said such interventions should operate under a transparent and accountable framework to ensure that public resources benefitted Nigerians rather than being diverted through corruption.
Obi promised to provide a more detailed policy roadmap on what he described as fair, transparent and affordable petroleum pricing.
He stated that Nigeria needed leadership focused on reducing the cost of living through sustainable policies and accountable administration.
Obi described the 30-day petrol discount intervention as a political gimmick, questioning why the administration introduced a temporary discount after Nigerians had endured years of economic hardship following the removal of fuel subsidy.
He said the policy failed to address the wider consequences of rising petrol prices, including poverty, unemployment, insecurity, and the increasing cost of goods and services.
The former governor also faulted the limited reach of the initiative, saying the discount would be available to about 900 Nigerian National Petroleum Company Limited retail stations out of an estimated 24,000 filling stations across the country.
Obi said that meant fewer than four per cent of filling stations would offer the discount, raising questions about how millions of Nigerians would access the relief.
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He estimated that, based on a population of about 243 million, each NNPC retail station would serve approximately 243,000 Nigerians if the stations were evenly distributed nationwide.
He said the situation could lead to intense competition among motorists seeking a discount of about N66 per litre, particularly in areas with limited access to NNPC outlets.
"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, who questioned the timing of the discount, also queried whether the initiative was designed to test the possibility of restoring fuel subsidy or to influence public opinion ahead of the 2027 general election.
He stated, "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!"
The NDC presidential candidate said the government should have conducted a detailed regulatory impact assessment and consulted stakeholders before implementing major economic policies.
He insisted that the initiative was too insufficient to address the economic challenges facing Nigerians, describing it as a policy driven by political considerations rather than a lasting solution.
