2027: Obi Makes U-Turn, Vows to Restore Fuel Subsidy If Elected

2027: Obi Makes U-Turn, Vows to Restore Fuel Subsidy If Elected

Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), has said he would restore Nigeria’s petrol subsidy if elected president in 2027, arguing that the major problem with the policy is the corruption surrounding its implementation.

Obi made the declaration during a recent interview with the BBC, where he was asked directly whether he would bring back the subsidy if elected.

“Yes. But remember, I have qualified it, not with the corruption that’s associated with it. I’ll remove the corruption and retain the subsidy,” he said.

The position marks a significant shift from comments Obi made in August, when he said the removal of fuel subsidy should not be reversed simply because proceeds from the policy were allegedly being mismanaged.

Speaking at the Nigerian Bar Association (NBA) Annual General Conference in Port Harcourt, Rivers State, Obi said at the time that he supported subsidy removal but argued that the savings should be properly invested in healthcare, education and other productive sectors.

“I subscribe, and I maintain that you need to remove subsidy. Mismanagement of the proceeds should not be the reason for not removing it,” he had said.

Obi has now drawn a distinction between the subsidy itself and what he describes as the corruption associated with the scheme.

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“From day one, I’ve talked about subsidy. I talked about corruption; corruption is the problem of subsidy,” he told the BBC.

The latest position also comes shortly after his running mate, Rabiu Kwankwaso, said an NDC administration would introduce fuel subsidy in its own way if the party wins the 2027 presidential election.

Kwankwaso had argued that the party would seek ways to make petrol more affordable while improving domestic refining and petroleum production.

The fuel subsidy debate has remained a major political and economic issue since President Bola Ahmed Tinubu announced its removal on May 29, 2023.

The decision caused petrol prices to rise sharply and has remained a contentious issue amid concerns over inflation, living costs and household purchasing power.

The Federal Government has continued to defend subsidy removal as a necessary economic reform, while opposition politicians have proposed different approaches to reducing the impact of petrol prices on Nigerians.

Obi also addressed the question of opposition unity ahead of the 2027 election, rejecting suggestions that he should step aside for another candidate if opposition parties eventually agree to a consensus candidate.

“We don’t need to step down. We need to do the right thing,” he said, arguing that opposition parties should focus on mobilising more voters.

On corruption, Obi said his approach would begin with his own conduct and that of his family. He also contrasted his proposed leadership style with that of former President Muhammadu Buhari, saying he would exercise greater control over his administration if elected.

With the 2027 presidential election approaching, Obi’s renewed pledge to retain or restore fuel subsidy is expected to keep the policy at the centre of economic and political debates, particularly as parties present competing proposals on petrol pricing and the cost of living.

2027: Obi Makes U-Turn, Vows to Restore Fuel Subsidy If Elected