Peter Obi, the presidential candidate of the New Democratic Congress (NDC), has sharply criticized the Federal Government’s newly announced 30-day petrol price discount, questioning its ability to address Nigeria’s deepening economic challenges.
Speaking via an official statement issued on Sunday, October 11, 2026, in Abuja, the former Anambra State governor described the initiative as a “reactive and confused approach to governance” that prioritizes political optics over sustainable economic solutions.
The policy, which offers a temporary price reduction of less than 5% on Premium Motor Spirit (PMS) across Nigerian National Petroleum Company (NNPC) retail outlets, was introduced by the ruling All Progressives Congress (APC) administration to cushion the impact of fuel subsidy removal.
Addressing the policy, Obi questioned whether a short-term temporary price slash could yield any meaningful macroeconomic stability or social relief.
“What really does the President Bola Tinubu-led government want to achieve with a one-month discount of less than 5% on fuel cost?” Obi asked in his statement. “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, or is it another political gambit in the face of threats of electoral loss ahead of the 2027 general election? Too many questions, no answer!”
Obi stated that he deliberately delayed his public assessment of the discount initiative following its initial announcement to observe its real-world implementation and impact before commenting.
According to Obi, the root cause of the current economic hardship stems from the abrupt removal of the petrol subsidy on May 29, 2023, coupled with the uncoordinated floating of the naira and poorly sequenced tax reforms.
He argued that these policies were enacted without comprehensive regulatory impact assessments or consultations with key stakeholders, resulting in severe inflation, business closures, youth brain drain, and declining living standards nationwide.
The NDC candidate urged the Federal Government to abandon temporary palliatives and “political optics” in favor of structured, welfare-enhancing policies aimed at driving production, boosting exports, and permanently lowering the cost of living for everyday Nigerians.
