Tinubu’s aide criticizes Peter Obi over fuel price comments
Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, has publicly criticized Peter Obi for his remarks on Nigeria’s rising fuel prices. Olusegun argued that Obi’s comments on the causes of fuel price increases were misleading and oversimplified. He stated that the main reason for the price hike is the deregulation of the fuel market after subsidy removal, not the lack of a strategic petroleum reserve. Olusegun also questioned Obi’s understanding of the complexities of the global energy market.
What we know
- Dada Olusegun rebuked Peter Obi for attributing rising fuel prices to a lack of government planning and absence of a strategic petroleum reserve.
- Olusegun insisted that the recent fuel price hikes are mainly due to market deregulation following subsidy removal by the Tinubu administration.
- He explained that in a deregulated market, prices respond to global oil prices, exchange rates, and supply risks, especially for countries like Nigeria that import refined products.
- Olusegun argued that strategic petroleum reserves are not typically used to control everyday pump prices, even in countries like the United States and China.
- He reminded Obi that he had previously supported subsidy removal during his presidential campaign, and criticized him for making what he called “embarrassing” and simplistic statements about complex economic issues.
