I Would’ve Removed Fuel Subsidy Differently — Peter Obi

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has said he would have removed subsidy on petroleum products in an organised manner if he were President of Nigeria.

Naija News reports that Obi said although he supported the removal of fuel subsidy, he would not have announced it on the day of his inauguration.

The former Anambra State governor stated this during an interview with Rufai Oseni, while responding to claims that he criticised President Bola Tinubu for removing fuel subsidy in 2023.

Tinubu had announced the removal of fuel subsidy during his inauguration as President.

Obi said his concern was not with the removal of subsidy itself, but with the process adopted by the current administration.

“I didn’t criticise Tinubu for removing the subsidy. I said I would have removed it, but in an organised manner. I wouldn’t have announced it at my inauguration,” Obi said.

He explained that he would have first engaged operators and stakeholders in the petroleum sector before making such a major policy announcement.

“I would have first sat down with operators in the industry because we know there is a lot of criminality around the subsidy,” he added.

Obi said any effective subsidy removal plan must be accompanied by a clear understanding of how much the country spends on the scheme and strong action against corruption.

“I would remove it to determine the exact amount being spent on subsidy and also address the issue of exchange rate deregulation. But in doing these things, the most important thing is to fight corruption head-on,” he said.

The NDC candidate argued that policy reforms must be implemented in a way that protects ordinary citizens.