Subsidy Removal Debate: Peter Obi Takes Fresh Stance
- Peter Obi reaffirmed his support for petrol subsidy removal at a Nigerian Bar Association conference in Port Harcourt on Monday
- The NDC presidential candidate accused the current administration of failing to channel the N16 trillion subsidy savings into public welfare
- Obi's remarks came as rival Atiku Abubakar reversed his own 2023 position, saying he would restore the petrol subsidy if elected in 2027
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Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), has publicly backed the removal of the petrol subsidy while accusing the current administration of wasting the financial gains that came with the policy.
Obi made the remarks on Monday at a conference organised by the Nigerian Bar Association (NBA) in Port Harcourt, Rivers State.
Source: Twitter
"I subscribe and maintain that you need to remove the subsidy. Mismanagement of the proceeds shouldn't be the reason for not removing it," said Obi, a former governor of Anambra State.
The Cable reported that he added that his own leadership blueprint had always included a plan to remove the subsidy "in an organised manner", with any recovered funds channelled into investments that would benefit ordinary Nigerians.
How the N16trn could have been spent - Obi
Rather than defend the status quo, Obi turned his fire on how the government has handled the savings. He argued that just five per cent of the N16 trillion the government claimed to have recovered from the subsidy removal could have been used to build primary healthcare centres across the country. He also said a portion of the funds could have addressed the growing burden of kidney disease in Nigeria, or been added to the country's sovereign wealth fund to secure future generations.
Obi stressed that Nigerians should not be expected to bear economic hardship while those in government continue to "feast" on public funds.
His remarks arrived in the middle of a broader political dispute over the subsidy policy. Finance Minister Taiwo Oyedele recently confirmed that the removal of petrol subsidy generated N15.8 trillion in resources for the federation between June 2023 and December 2025. Of that total, Oyedele said the federal government received N5.4 trillion, with the remaining N10.4 trillion distributed among states and local governments.
Atiku's u-turn adds to the debate
The controversy has also drawn in former Vice-President Atiku Abubakar, who had previously signalled support for ending the subsidy before the 2023 election. Last Wednesday, Atiku reversed that position during an interview, saying he would restore petrol subsidy if elected president in 2027, citing the government's failure to account for the funds saved.
President Bola Tinubu responded sharply, saying Atiku's proposal showed "serious ignorance of governance and economy", and pointed to the financial difficulties some states faced in paying salaries and pensions before he took office.
Why I accept to be Obi's VP - Kwankwaso
Legit.ng earlier reported that Senator Rabiu Kwankwaso said his choice to run with Peter Obi rests on national balance, equity and the need for democratic change.
Kwankwaso revealed that consultations with the Kwankwasiyya Movement, NNPP supporters and the Obidient Movement shaped the decision.
The former Kano governor said the North-South arrangement includes a one-term understanding before power returns to the North.
Source: Legit.ng
