Peter Obi, the presidential standard-bearer of the Nigeria Democratic Congress (NDC), has expressed opposition to the proposal by the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, to reinstate fuel subsidy if he emerges victorious in the 2027 presidential election.
Obi made his position known on Monday during an appearance at the Nigerian Bar Association (NBA) conference held in Port Harcourt, Rivers State, where he addressed the contentious issue of petroleum subsidy and its impact on Nigerians.
The former Anambra State governor maintained that eliminating the fuel subsidy was necessary, stressing that the decision to remove it should not be reversed simply because the funds generated from the policy had allegedly not been properly managed.
According to Obi, the major challenge surrounding subsidy removal is not the policy itself but the manner in which the government has handled the financial resources generated from it.
He argued that authorities should have established adequate measures to reduce the immediate economic burden experienced by citizens following the removal of the subsidy.
Obi further stated that the government ought to have provided Nigerians with practical alternatives and social interventions capable of cushioning the impact of rising transportation, food and living costs associated with the policy.
He maintained that money saved through subsidy elimination should be channelled into productive sectors capable of strengthening the economy, improving infrastructure and creating better opportunities for citizens.
The NDC candidate criticised what he described as the poor handling of the funds saved following the removal of the subsidy. He alleged that a significant portion of the resources had been mismanaged, while some of the funds were allegedly diverted.
For Obi, however, such allegations do not justify returning to the former subsidy regime. Instead, he believes the appropriate response is to ensure greater transparency, accountability and effective utilisation of the resources generated by the policy.
He explained that he had already outlined his position on subsidy reform in his manifesto ahead of the 2023 presidential election.
Obi said his proposal was based on a gradual and properly coordinated process that would allow the government to eliminate the subsidy while simultaneously protecting vulnerable Nigerians from the resulting economic pressures.
He argued that a successful implementation would require government to identify productive areas where the recovered funds could be invested to generate measurable benefits for the population.
The former Anambra governor also insisted that, if given the opportunity to lead the country, he would ensure that resources recovered from subsidy removal were managed responsibly and directed towards sectors that could contribute meaningfully to national development.
He stressed that his approach would involve careful planning rather than an abrupt policy implementation without adequate provisions for citizens.
Obi’s comments place him at odds with Atiku’s position on the subsidy question, as the ADC presidential candidate has expressed support for bringing back the scheme under a future administration.
While Obi acknowledged the difficulties Nigerians have faced since subsidy removal, he maintained that reversing the policy would not address the underlying challenges.
Instead, he advocated a system in which government resources are transparently managed and invested in areas capable of improving the economy and reducing the financial pressure on ordinary Nigerians.
He therefore maintained that the focus should be on correcting the weaknesses surrounding the implementation of subsidy removal rather than abandoning the policy altogether.
