Politics
Obi will return fuel subsidy savings to Nigerians, not Governors — NDC
The Nigeria Democratic Congress (NDC) has said its presidential candidate, Peter Obi, will not hand over funds saved from the removal of petrol subsidy to state governors if elected president in 2027.
The party’s Director of New Media and Strategic Communications, Theo Abu Agada, said the funds would instead be directed towards improving the welfare of Nigerians.
Agada also said Obi would not restore the network of oil cabals that, according to the party, benefited from the former fuel subsidy regime.
His comments came amid renewed debate over the future of petrol subsidy ahead of the 2027 presidential election.
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023, bringing an end to the long-standing subsidy regime.
The policy has since triggered intense debate over its economic impact, with proponents arguing that subsidy payments placed an unsustainable burden on government finances, while critics have pointed to the sharp increase in petrol, transportation and food prices.
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, recently proposed the restoration of fuel subsidy if elected president in 2027.
Atiku has argued that the policy would help ease the economic burden on Nigerians, while also promising to introduce a targeted and controlled intervention rather than return to the previous system.
However, Agada said Obi would pursue a different approach if elected.
According to him, Obi would ensure that resources accruing from the removal of subsidy benefit Nigerians directly rather than being transferred to state governments.
He also maintained that an Obi administration would not return the oil cabals that were associated with the previous subsidy system.
Agada said the NDC candidate’s approach would focus on ensuring that public resources are used transparently for the benefit of citizens rather than sustaining structures that, according to the party, contributed to inefficiencies in the petroleum sector.
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