Peter Obi Declares Position On Fuel Subsidy, Says Nigeria Has No Business With Poverty

The 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has declared that the fuel subsidy system in Nigeria is riddled with corruption.

The former Governor of Anambra State added that he is convinced that subsidy removal can deliver real benefits to Nigerians if properly and transparently managed.

Naija News reports that Obi made the assertion in a statement on Tuesday on his 𝕏 account in which he reflected on his words while speaking as a panelist on Monday during the 66th Annual General Conference of the Nigerian Bar Association (NBA) at the Yakubu Gowon Stadium in Port Harcourt, Rivers State.

He maintained that while he supports the removal of fuel subsidy, savings from subsidy removal should have been transparently invested in clearly defined, measurable development priorities, especially agriculture, healthcare, education, poverty reduction, and security.

In his words, “On fuel subsidy removal, I remain committed to the position I took in 2023: the subsidy system was riddled with corruption. My approach was to eliminate the corruption, establish the actual subsidy cost, and then carry out a carefully planned, phased removal.

“Savings from subsidy removal should have been transparently invested in clearly defined, measurable development priorities, especially agriculture, healthcare, education, poverty reduction, and security. I remain convinced that subsidy removal must deliver real benefits to Nigerians; citizens should not bear higher energy costs while the savings remain unaccounted for or fail to improve their lives. Nigeria must focus its investments on what matters most: food security, healthcare, education, infrastructure, human capital, national security, and unity.

“Nigeria has all it needs to prosper. What remains is competent, honest, and purposeful leadership that puts the common good above personal interests.”

The NDC presidential candidate also insisted that Nigeria has everything it needs to prosper.

He reiterated that the poverty and hunger Nigerians face are largely the result of years of mismanagement and corruption by leaders entrusted with the country’s commonwealth.

Obi insisted that Nigeria has no business with poverty, hunger, and food importation with its vast human and natural resource endowment.

He submitted that Nigeria can feed itself, create millions of jobs, and export food to the world.

“Yesterday, I had the privilege of joining some presidential candidates and their representatives as a guest and panellist at the 66th Annual General Conference of the Nigerian Bar Association at the Yakubu Gowon Stadium in Port Harcourt, Rivers State.

“Our discussion focused on how to rebuild Nigeria and make it work for its resilient, hardworking, and long-suffering people.

“I reiterated my long-held view that the poverty and hunger Nigerians face today are largely the result of years of mismanagement and corruption by leaders entrusted with our commonwealth.

“With our vast human and natural resources, Nigeria has no business being associated with extreme poverty and hunger. We have no business importing food when we possess enormous agricultural potential.

“With the right investment, policies, and political will, agriculture can become one of Nigeria’s greatest sources of wealth. Northern Nigeria’s vast farmland, in particular, can drive major economic transformation. If countries with fewer resources have transformed their agricultural sectors, Nigeria can feed itself, create millions of jobs, and export food to the world,” he wrote.