Economy
Obi: Lack Of Planning Behind Nigeria’s Fuel Price Hikes
Obi: Lack Of Planning Behind Nigeria’s Fuel Price Hikes
Obi: Lack of planning behind Nigeria’s fuel price hikes. Former presidential candidate Peter Obi has blamed the recent sharp increase in petrol and diesel prices in Nigeria on the country’s lack of strategic planning, warning that external shocks to the global economy quickly affect local prices.
In a statement issued on Thursday, Obi highlighted the impact of the ongoing US-Iran conflict on global oil markets, saying, “A few weeks ago, petrol was selling for less than ₦1,000 per litre, but today it costs over ₦1,200 per litre.
“Diesel, which was also priced below ₦1,000 per litre, is now over ₦1,500 per litre. These rapid increases illustrate how quickly external shocks can affect the Nigerian economy.”
Obi explained that most countries maintain strategic petroleum reserves to cushion their economies against supply or price shocks, but Nigeria lacks such a buffer.
“The underlying issue is a lack of planning. Countries that engage in planning create buffers against shocks, while those that do not remain vulnerable to them,” he said.
The former presidential candidate’s warning comes as petrol prices hit about ₦1,300 per litre in various parts of the country on Monday following a hike in gantry prices at the Dangote Petroleum Refinery from ₦995 to ₦1,175 per litre. Some stations were reported selling petrol for as high as ₦1,350 to ₦1,400 per litre.
Economists and members of the Organised Private Sector have warned that the price surge could trigger inflationary pressures on goods and services, forcing businesses to adjust budgets and pricing strategies to cushion the impact on consumers.
Peter Obi
The OPS urged the Federal Government to strengthen efforts to boost local refining capacity and find innovative ways to tackle recurring fuel price spikes.
The Nigeria Labour Congress also criticised repeated petrol price hikes, while international developments, including potential emergency oil reserve releases by G7 nations, were cited as attempts to stabilise global oil supply.
Obi concluded his statement with a call for structural reforms, saying, “The old maxim remains true: when a country fails to plan, it has already planned to fail,” emphasising the need for long-term planning to insulate the country from global shocks and protect the economy from sudden price hikes.
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
The National Association of Retirees of State Governments has threatened a nationwide protest unless state governors urgently review pension payments in line with existing labour laws.
Simon Anchaver, president of the union, made the call in Yenagoa at the inauguration of the Bayelsa interim executive of the newly registered union.
The union demanded that the 36 state governors prioritise pension payments.
They equally called on President Bola Tinubu to establish a ministry for pension affairs to guarantee annual budgetary allocations for pensioners’ welfare.
Eereporter.com
The union bemoaned the arbitrary payment of pensions by some governors, and commended the Nasarawa state governor for releasing N7 billion to clear pension arrears and gratuity.
Its national secretary, Bipre Ndiomu, said the union was newly registered and currently inaugurating state executives. He urged state governors to put in place the modalities to guarantee the welfare of pensioners across the country.
Protest Demolition
Bayelsa’s head of service, Wisdom Sawyer, urged the executive to serve as a bridge between retirees and the government, adding that the state government was open to engagement on outstanding issues.
The newly inaugurated state chairman, Bazigha Tanwei, accepted the mandate and promised an open-door policy, regular consultations with members, and sustained advocacy with the state government to clear arrears.
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
In continuation of its Corporate Social Responsibility (CSR) initiatives on financial literacy, the NNPC Foundation Ltd./Gte has conducted its second 2026 National Youth Service Corps (NYSC) skills empowerment training for Batch A, Stream 2 corps members at the FCT NYSC Orientation Camp, Kubwa, Abuja, over the weekend.
Delivered in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, the programme covers financial literacy, entrepreneurship, and business development. Its training structure also includes a financial literacy test, a “Kick Start My Business” course, and business proposal pitching.
Eereporter.com
Managing Director of NNPC Foundation, Emmanuella Arukwe, who was represented by the Head, Programme Management, Rose Okonkwo, noted that over one million corps members have been trained nationwide through the programme.
Acting Director of SAED, Usman Yahaya, commended the NNPC Foundation for its consistent support, urging the corps members to acquire multiple skills during their service year in order to position themselves as job creators and not job seekers.
NNPC, NYSC
It would be recalled that last year, 531 youths received Starter Packs and financial support to help them launch their businesses, with most beneficiaries recording measurable progress across their various enterprises.
The NNPC Foundation Ltd./Gte has, through the financial literacy programme, sustained its commitment to preparing young Nigerians towards sustainable careers and self-reliance, contributing to national economic growth and development.
Economy
NNPC: Commissioning, Handover Of Rehabilitated Hospital Wards At National Orthopaedic Hospital, Igbobi
NNPC: Commissioning, Handover Of Rehabilitated Hospital Wards At National Orthopaedic Hospital, Igbobi
This intervention forms part of the NNPC Foundation Ltd./Gte’s ongoing commitment to improving healthcare infrastructure across Nigeria, ensuring that more patients receive care in decent, functional facilities.
Tomorrow, Wednesday, 29th April 2026, the NNPC Foundation Ltd./Gte., the Corporate Social Responsibility arm of NNPC Limited, will commission and hand over three fully rehabilitated hospital wards with a 100-bed capacity at the National Orthopaedic Hospital, Igbobi, Lagos State.
Eereporter.com
The event is scheduled to begin at 11:00 am prompt.
NNPC
This intervention forms part of the NNPC Foundation Ltd./Gte’s ongoing commitment to improving healthcare infrastructure across Nigeria, ensuring that more patients receive care in decent, functional facilities.
Watch the commissioning LIVE on the NNPC Limited YouTube Channel: https://www.youtube.com/@nnpclimited/streams
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