Precious Nwonu, Enugu
The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has said he will restore Nigeria’s petrol subsidy if elected president in 2027, arguing that corruption, rather than the subsidy itself, has been the major problem with the scheme.
Obi made the declaration on Tuesday during an interview with the BBC, where he was asked directly whether he would bring back the subsidy regime.
“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,” Obi said.
The former Anambra State governor maintained that his position was not necessarily a change in his long-standing argument on the subsidy debate, saying he had consistently raised concerns about corruption surrounding its implementation.
“From day one, I’ve talked about subsidy. I talked about corruption; corruption is the problem of subsidy,” he said.
Obi’s latest position comes after the removal of petrol subsidy by President Bola Tinubu on May 29, 2023, when the President declared that “fuel subsidy is gone.”
The policy led to a sharp increase in petrol prices and became a major issue in Nigeria’s economic and political debate, with the Federal Government defending the decision as necessary for economic reform.
During the 2023 presidential campaign, Obi had supported the removal of the subsidy, arguing that money saved from the scheme should be invested in sectors such as education, healthcare and infrastructure.
His latest comments, however, indicate that a future administration under him would retain a subsidy system while seeking to eliminate what he described as corruption associated with its operation.
The position also follows recent comments by Obi’s running mate, Rabiu Kwankwaso, who said an NDC administration would introduce subsidy “in our own way” if elected in 2027.
Kwankwaso had argued that increased investment in domestic refining and petroleum production could help make petrol available to Nigerians at more affordable prices.
Meanwhile, Obi said tackling corruption would begin with the conduct of the President and members of the President’s immediate family.
“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” he said.
Obi also distinguished his proposed approach from that of former President Muhammadu Buhari, who campaigned extensively on an anti-corruption platform.
Asked about Buhari’s record, Obi said, “He was not in charge. The difference is that I’ll be in charge.”
The NDC candidate also rejected the suggestion that he should withdraw from the 2027 presidential race if opposition parties eventually decide to present a consensus candidate.
According to Obi, opposition parties should instead concentrate on mobilising more voters and doing what is necessary to win the election.
“We don’t need to step down. We need to do the right thing,” he said.
With the 2027 election approaching, the future of petrol subsidy is likely to remain a major issue in the political debate as parties present competing proposals on fuel prices, domestic refining and the management of public resources.
