Tinubu’s Aide Criticises Obi’s Analysis of Nigeria’s Rising Fuel Prices
A senior aide to Nigerian President Bola Tinubu has publicly rebuked former presidential candidate Peter Obi over his recent criticism of the country’s increasing fuel prices, reigniting political debate over the nation’s energy policy.
The exchange began with a statement from Obi, the former governor of Anambra State, who attributed Nigeria’s vulnerability to global oil price shocks to the absence of a strategic petroleum reserve and inadequate government planning. In response, Dada Olusegun, Special Assistant to the President on Social Media, accused Obi of oversimplifying a complex economic issue.
Olusegun argued that the primary driver of recent price increases is the full deregulation of Nigeria’s fuel market following the removal of subsidies by the Tinubu administration. He stated that in a deregulated system, domestic pump prices directly reflect global oil prices, exchange rates, and supply risks, such as current geopolitical tensions in the Middle East.
He further contended that strategic petroleum reserves, held by nations like the United States and China, are designed for severe supply emergencies, not for managing daily price fluctuations. Olusegun identified Nigeria’s core challenge as its longstanding structural dependence on imported refined products due to limited domestic refining capacity, compounded by foreign exchange pressures.
Noting that Obi had previously expressed support for subsidy removal during his presidential campaign, Olusegun suggested the former governor’s current stance was inconsistent. He concluded by asserting that a leader should refrain from commenting on complex systems they do not fully understand to avoid national embarrassment.
Obi’s original comments coincided with a surge in global oil prices, with Brent crude exceeding $100 per barrel amid Middle East tensions. Locally, the Dangote Refinery initially raised its petrol price to ₦1,175 per litre before a slight reduction to ₦1,075, highlighting the pass-through effect of global markets.
The back-and-forth underscores the persistent political and public sensitivity surrounding fuel costs in Nigeria, Africa’s largest economy. With the government maintaining its subsidy-free policy, analysts note that consumers will continue to bear the brunt of international price volatility until significant increases in domestic refining capacity stabilize the supply chain. The debate reflects broader national discussions on economic restructuring and long-term energy security.
