Nigeria Democratic Congress (NDC) presidential candidate Peter Obi has reiterated his support for the removal of the petrol subsidy.
He reaffirmed this stance on Monday during an address at a conference hosted by the Nigerian Bar Association (NBA) in Port Harcourt, Rivers State.
“I subscribe and maintain that you need to remove subsidy. Mismanagement of the proceeds shouldn’t be the reason for not removing it,” the former governor of Anambra said.
“What we should have done is that when we removed the subsidy, we would have given the people alternative usage for the subsidy.
“What we have today is that, that removal and the attendant resources being recovered is also being mismanaged and stolen. For example, we have received, according to them, N16 trillion.”
According to Obi, his leadership blueprint for Nigeria stated that he would remove the subsidy “in an organised manner” and invest the recovered funds in national development for the benefit of Nigerians.
Read Also: Fuel Subsidy-The Reform That Nigerians Still Feel—and the Political Battle It Has Reopened
Backstory…
Nigeria’s fuel-subsidy debate has resurfaced as one of the major economic issues ahead of the 2027 presidential election.
The issue dates back to May 29, 2023, when President Bola Tinubu announced during his inauguration that “subsidy is gone.” The decision immediately pushed petrol prices higher and triggered increases in transportation, food, logistics and production costs.
Few days ago, former Vice President Atiku Abubakar, the African Democratic Congress (ADC) presidential candidate, said he would restore petrol subsidy if elected president in 2027. However, the Tinubu-led administration blasted him over the remarks.
The government recently attempted to answer that question. Finance Minister Taiwo Oyedele said the Federal Government’s share of the subsidy savings, alongside additional revenue and borrowing, contributed to about ₦20.4 trillion in incremental Federal Government resources.
Read Also: Fuel Subsidy Removal- Tinubu Govt Reveals Savings Breakdown
