2027: Obi will restore fuel subsidy in ‘different form’ — Kwankwaso
Rabiu Kwankwaso, the Vice Presidential candidate of the Nigeria Democratic Congress (NDC), announced that a government led by the party’s presidential candidate, Peter Obi, would consider reintroducing a fuel subsidy, albeit through a revised approach.
In an interview with Arise, Kwankwaso, a former governor of Kano State, discussed the challenges of fuel pricing and criticized the economic policies implemented by President Bola Tinubu’s administration. He emphasized that the NDC is committed to finding solutions to decrease fuel costs for Nigerians, including increased investment in domestic refining capabilities.
Kwankwaso stated, “No, no, no, look. We are bringing subsidy in our own way,” when asked about potential impacts of the party’s stance on subsidy in the North-West region. He proposed that the government could develop additional refineries to enhance local production and diminish reliance on imported petroleum products.
He argued that expanding domestic refining capacity would enable Nigerians to access petrol at what he referred to as reasonable prices. “Now, if individuals in this country could build refineries, I see no reason why government, under certain circumstances, will not build a refinery or refineries to the extent that we achieve the minimum requirement,” Kwankwaso said.
Kwankwaso reiterated that the NDC would prioritize strategies aimed at reducing fuel prices. “What is the minimum requirement? The minimum requirement is for the people across the country to go to the filling stations and buy fuel at a reasonable price,” he added. “We, in the NDC, will do whatever it takes, really, to put the price of oil down.”
Additionally, Kwankwaso criticized Tinubu for the swift removal of the petrol subsidy shortly after taking office in 2023. He recognized that other leading presidential candidates in the 2023 election also supported subsidy removal but contended that Tinubu acted prematurely.
“The decision was taken without adequately addressing the consequences associated with subsidy removal,” Kwankwaso stated. “And not only did he decide to remove the subsidy, but what he did was to remove it immediately— in fact, day one—without looking at all those possible issues that were associated with that.”
