Peter Obi has pushed back on Atiku Abubakar’s recent promise to bring back fuel subsidy if elected in 2027.
Speaking at a Nigerian Bar Association conference in Port Harcourt, the former Anambra governor said the policy should not be reversed simply because the savings from its removal have been mismanaged. He noted that President Tinubu’s decision to scrap the subsidy on May 29, 2023, led to a sharp rise in the cost of goods and transportation, but argued that the solution lies in proper use of the funds, not in restoring the subsidy.
Obi said that instead of reversing the policy, the government should have channelled the savings into visible benefits for ordinary Nigerians. He pointed out that if the estimated N16 trillion recovered had been used wisely, the country could have addressed pressing needs in primary healthcare across the wards and built kidney dialysis centres to serve millions of Nigerians currently without access.
He added that Nigeria could have saved around $10 billion in its sovereign wealth fund by now, money that would have been available to support development. Obi also criticised the idea of asking citizens to endure hardship while public funds are allegedly being misappropriated, insisting that those in government cannot expect Nigerians to make sacrifices they are unwilling to make themselves.
The presidential candidate maintained that removing the subsidy was the right step, but the failure to invest the proceeds responsibly has left many questioning the benefits of the policy.
