2027: Obi Disagrees With Atiku Over Fuel Subsidy
Peter Obi has disagreed with Atiku Abubakar over the proposal to restore Nigeria’s fuel subsidy if elected president in 2027.
Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), said removing the subsidy was necessary.
However, he criticised the Federal Government for what he described as poor management of the resources saved from subsidy removal.
The former Anambra State governor spoke on Monday at the Nigerian Bar Association conference in Port Harcourt, Rivers State.
His comments came amid renewed debate over Atiku’s proposal to restore the subsidy.
Atiku, the presidential candidate of the African Democratic Congress (ADC), has said he would reverse the policy if he wins the 2027 presidential election.
The former vice president had also campaigned for subsidy removal during the 2023 presidential election.
Obi: Subsidy Removal Was Necessary
Obi maintained that removing the fuel subsidy was not the fundamental problem.
According to him, the major failure was the way the government handled the funds recovered after the policy was removed.
Also Read: Mbappe Hat-Trick Fires Real Madrid to 4-1 Win Over Real Sociedad
“I subscribe and I maintain that we need to remove subsidy. Mismanagement of the proceeds should not be the reason for not removing it,” Obi said.
He argued that the government should have introduced measures to reduce the impact of subsidy removal on Nigerians.
Obi said the savings should also have been directed into productive areas of the economy.
“What we should have done is that when we removed it, we should have given the people alternative usage for the subsidy,” he said.
Obi Accuses Government of Mismanaging Savings
The former Anambra governor further criticised the management of resources recovered from the subsidy policy.
Obi alleged that the funds had been mismanaged and stolen.
“What we have today is that that removal and the attendant resources being recovered is also being mismanaged and stolen,” he said.
He added that he had anticipated the need for a structured approach to subsidy removal before the 2023 election.
Obi said his manifesto had already outlined how the policy should be implemented and how the recovered funds should be used.
“Go to my manifesto, I said it before, I said I will do it in an organised manner and whatever we recover would be invested appropriately,” he said.
Tinubu Government Removed Petrol Subsidy in 2023
President Bola Tinubu announced the removal of Nigeria’s petrol subsidy during his inauguration on May 29, 2023.
The decision triggered a sharp rise in petrol prices and increased concerns over the cost of living.
The Federal Government has continued to defend subsidy removal as necessary for reducing fiscal pressure.
Officials have also argued that removing the subsidy would free resources for infrastructure and other areas of the economy.
Opposition politicians, however, have repeatedly criticised both the implementation of the policy and the use of the funds saved from it.
The subsidy debate is expected to remain a major issue ahead of Nigeria’s 2027 presidential election.
Atiku’s proposal to restore the subsidy has already triggered reactions from other political figures, including Obi and other opposition politicians.
