Fuel Hikes Expose Nigeria’s Planning Gap, Peter Obi Warns

Former presidential candidate Peter Obi has blamed the recent petrol and diesel price hikes on Nigeria’s lack of strategic planning. He highlighted how global shocks, such as the US-Iran conflict, quickly push local pump prices above ₦1,200 per litre. Obi noted that most nations keep strategic petroleum reserves to cushion against supply disruptions. Nigeria, however, has no such buffer, leaving consumers at the mercy of sudden international market swings. He pointed out that prices at some stations have already reached ₦1,350 to ₦1,400 per litre after the Dangote refinery raised its gantry price. Economists warn this surge could stoke inflation and force businesses to raise costs. Obi urged structural reforms and long-term planning to shield Nigeria from volatile oil markets. “When a country fails to plan, it has already planned to fail,” he said, calling for stronger local refining capacity and emergency reserves.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.