Peter Obi faults poor planning for fuel price surge in Nigeria

Africa, Business, Politics

ABUJA, NIGERIA (NPA) — March 12, 2026 — Nigeria’s major opposition leader and 2027 presidential aspirant, Mr Peter Obi, has blamed poor strategic planning for the surge in petrol and diesel prices in the country triggered by the ongoing Middle East conflict involving the United States, Israel, and Iran.

In a statement on Thursday, titled “When Countries Fail to Plan”, Obi noted that most nations, whether oil producers or not, maintain strategic petroleum reserves to cushion against supply shocks. Nigeria’s failure to establish such buffers, he said, exposes the economy to immediate impacts.

Obi stressed that countries with effective planning can absorb external shocks, while those without remain vulnerable. “When a country fails to plan, it has already planned to fail,” he wrote.

He cited recent price hikes as evidence: petrol rising from below ₦1,000 to over ₦1,200 per litre, and diesel climbing from under ₦1,000 to above ₦1,500. These rapid increases, he argued, show how global tensions quickly destabilise Nigeria’s economy.

Obi concluded that Nigeria’s lack of reserves and foresight underscores the urgent need for strategic planning to shield citizens from future disruptions.