Fuel Price Hike: “Don’t Blame Tinubu for NNPCL’s Business Decisions” — Omokri

In a recent statement, former presidential aide Reno Omokri has argued that it is incorrect to blame President Bola Tinubu for decisions made by the Nigerian National Petroleum Company Limited (NNPCL). Omokri emphasized that while the federal government owns the NNPCL, its board of directors is responsible for managing the company and should be held accountable for its business operations.

“Attacking President Bola Tinubu over NNPCL’s actions shows a misunderstanding of corporate governance and how the government functions,” said Omokri, who previously served as special assistant on New Media to former President Goodluck Jonathan.

The president has faced criticism following the recent increase in petrol prices by NNPCL, with prices jumping from N580/N617 to N850/N893 per litre. Many observers have attributed this hike to President Tinubu, believing that the state-owned oil company cannot adjust its prices without presidential approval.

Omokri, however, offered a different perspective, arguing that NNPCL operates as a limited liability company, independent of direct government control in its business decisions. “The NNPCL, though state-owned, is not bound by the Appropriation Act or the Fiscal Responsibility Act like other ministries or agencies,” he added.

This defense comes amidst growing public frustration over the fuel price increases and the broader economic challenges facing the country.