2027: Peter Obi Promises to Restore Petrol Subsidy if Elected President

The presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi, has promised to restore petrol subsidy if elected president in 2027, saying his administration would first eliminate the corruption associated with the scheme.

 

Obi made the pledge during an interview with the BBC, where he argued that corruption, rather than the subsidy itself, was the major problem with the policy.

 

During his 2023 presidential campaign, the former Anambra State governor had supported the removal of petrol subsidy, saying funds spent on the scheme should instead be redirected to education, healthcare and infrastructure.

 

However, explaining his current position, Obi said his administration would retain subsidy while removing the corruption surrounding its implementation.

 

“From day one, I’ve talked about subsidy. I talked about corruption; corruption is the problem of subsidy,” he said.

 

Asked whether he would restore the subsidy if elected, Obi replied in the affirmative.

 

“Yes. But remember, I have qualified it, not with the corruption that’s associated with it. I’ll remove the corruption and retain the subsidy,” he said.

 

President Bola Tinubu had announced the removal of petrol subsidy during his inauguration on May 29, 2023, declaring that “fuel subsidy is gone.” The Federal Government subsequently said funds previously spent on the scheme would be redirected to infrastructure, education, healthcare and job creation.

 

Obi’s latest position comes about two weeks after his running mate, Rabiu Kwankwaso, also backed the idea of reintroducing subsidy under an NDC administration.

 

Kwankwaso, a former Kano State governor, had said the party would bring back subsidy “in our own way,” while proposing increased investment in refineries and domestic petroleum production to make petrol more affordable.

 

Meanwhile, Obi rejected suggestions that he should step down for another opposition candidate if opposition parties agree to field a consensus candidate in 2027.

 

“We don’t need to step down. We need to do the right thing,” he said.

 

On tackling corruption, Obi argued that the conduct of the President and members of the President’s immediate family would be central to his strategy.

 

“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” he said.

 

He also dismissed comparisons with former President Muhammadu Buhari’s anti-corruption record, arguing that Buhari was not fully in charge of his administration.

 

“Nigerians should not decide with that. He was not in charge. The difference is that I’ll be in charge,” Obi said.