Former Labour Party presidential candidate Peter Obi has criticised President Bola Tinubu’s administration over its 30-day petrol price discount, describing the initiative as a reactive policy that substitutes political optics for sound governance.
Obi, in a statement posted on his X account on Sunday, October 11, 2026, argued that the temporary discount would do little to ease the economic hardship Nigerians have faced since the removal of petrol subsidy in May 2023.
He said he had delayed commenting on the Federal Government’s announcement to assess its outcome, but concluded that the policy reflected what he described as a pattern of confused and reactive decision-making by the All Progressives Congress-led administration.
“Now, having assessed the outcomes, the policy is a substitution of political optics for sound policy,” Obi stated.
The former Anambra State governor faulted Tinubu for removing the fuel subsidy on May 29, 2023, without adequate consultation or a proper assessment of its potential consequences for the economy and the livelihoods of ordinary Nigerians.
He also criticised the subsequent floating of the naira and tax reforms, arguing that the policies were poorly sequenced and implemented in a disorganised manner.
According to Obi, the combined effect of the policies, alongside the simultaneous use of three budgets, had fuelled inflation, triggered widespread price increases and placed severe economic pressure on households and businesses.
He listed rising multidimensional poverty, escalating costs of goods and services, shrinking economic opportunities, business closures, unemployment, insecurity, widening inequality and the forced migration of young Nigerians among the consequences of the government’s policies.
Obi further accused the administration of failing to conduct and publish detailed regulatory impact assessments that would help determine the effectiveness and consequences of its economic decisions.
He argued that a competent government would engage stakeholders and ordinary Nigerians in meaningful consultations before developing inclusive and sustainable strategies for economic growth.
Questioning the rationale behind the petrol discount, Obi asked whether a temporary reduction of less than five per cent in fuel costs could meaningfully address the country’s economic challenges.
“What really does the President Bola Tinubu led government want to achieve with a one-month discount of less than 5% on fuel cost. Will it reduce poverty, unemployment, insecurity, and inequality? Will it increase productivity and exports?” he queried.
He also questioned whether the initiative was intended to determine the possibility of restoring the subsidy or was a political manoeuvre ahead of the 2027 general election.
“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!” Obi said.
The former presidential candidate also challenged the limited reach of the initiative, noting that the Federal Government had indicated that the discount would be available at NNPC Retail petrol stations, estimated in his statement at about 900 outlets nationwide.
Citing an estimated 24,000 petrol stations across Nigeria, Obi argued that the arrangement would cover fewer than four per cent of the country’s filling stations, leaving the vast majority of motorists without direct access to the discount.
He further estimated Nigeria’s population at approximately 243 million, arguing that, if the NNPC Retail stations were evenly distributed, each outlet would serve about 243,000 people—an assumption he acknowledged did not reflect the actual distribution of the stations.
“Imagine 243,000 Nigerians struggling for a N66.00/per litre discount in each of the NNPC petrol stations. This is certainly not how to govern a richly blessed and endowed nation!” he stated.
Obi said he would provide a more detailed explanation of his position on fuel subsidy and outline a policy roadmap for fair, transparent and affordable petroleum pricing.
He maintained that Nigeria had sufficient revenue potential to support the restoration of subsidies, provided the country was governed by a leadership committed to productivity, transparency, competence and the fight against corruption.
According to him, subsidy should not be limited to petrol but should also support critical sectors, including agriculture, healthcare, education and infrastructure.
However, Obi argued that beyond restoring subsidies, Nigeria needed leadership focused on reducing the cost of living through welfare-enhancing pricing policies and their honest implementation.
He concluded that Tinubu’s October 1 announcement did not meet that standard, describing the initiative as political messaging rather than a sustainable economic intervention.
“It is clear that President Tinubu’s October 1 policy announcement is neither of that. It is plain political optics masked as policy. Nigerians are tired of those gimmicks. It is time for real change,” Obi declared.
