2027: Obi disagrees with Atiku on subsidy, faults mismanagement of proceeds
Obi Criticizes Atiku’s Fuel Subsidy Proposal and Accuses Government of Mismanagement
Peter Obi, the presidential candidate for the Nigerian Democratic Party, expressed his disagreement with Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), regarding Atiku’s plan to reinstate the fuel subsidy if he wins the presidency in 2027.
Obi made his remarks on Monday at the Nigerian Bar Association conference in Port Harcourt, Rivers State, amidst ongoing discussions about the future of the fuel subsidy. Atiku, who advocated for the removal of the subsidy during the 2023 presidential election, announced his intention to reinstate the policy should he be elected next year.
In contrast, Obi argued that the removal of the subsidy should remain in effect, emphasizing that the primary issue lies in the government’s failure to adequately manage and invest the savings generated from its removal. “I subscribe and I maintain that we need to remove subsidy. Mismanagement of the proceeds should not be the reason for not removing it,” Obi stated.
The former governor of Anambra suggested that the government should have implemented alternative measures to mitigate the impact on citizens following the subsidy removal. He emphasized the need for the savings to be allocated to productive sectors of the economy. “What we should have done is that when we removed it, we should have given the people alternative usage for the subsidy,” he added.
Obi criticized the current management of resources recovered from the subsidy removal, alleging that they have been misused. “What we have today is that that removal and the attendant resources being recovered is also being mismanaged and stolen,” he remarked.
He also noted that he had anticipated the need for a structured approach to subsidy removal, which he had laid out in his manifesto prior to the 2023 election. “Go to my manifesto, I said it before, I said I will do it in an organized manner and whatever we recover would be invested appropriately,” Obi said.
The topic of fuel subsidy removal became prominent following President Bola Tinubu’s announcement on his inauguration day in May 2023, which led to a significant increase in petrol prices and heightened concerns about the cost of living. The Federal Government has defended the policy as essential for reducing fiscal pressure and reallocating public resources, but critics, including opposition figures, continue to scrutinize its implementation and the utilization of the resulting savings.
