The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has stated that although he supports the removal of fuel subsidy, he would have implemented the policy through a more structured and organised process if elected President of Nigeria.
Obi made the remarks during an interview with Rufai Oseni while responding to claims that he opposed President Bola Tinubu’s decision to remove fuel subsidy in 2023.
According to the former Governor of Anambra State, his criticism was never about ending the subsidy regime but rather the manner in which the policy was introduced.
“I didn’t criticise Tinubu for removing the subsidy. I said I would have removed it, but in an organised manner. I wouldn’t have announced it at my inauguration,” Obi said.
He explained that before implementing such a major economic reform, his administration would have first engaged stakeholders and operators within the petroleum sector.
Obi argued that broad consultation and proper planning were necessary due to longstanding concerns surrounding transparency and inefficiencies in the subsidy system.
“I would have first sat down with operators in the industry because we know there is a lot of criminality around the subsidy,” he stated.
The former presidential candidate further maintained that any subsidy removal policy must be backed by accurate data on government expenditure and accompanied by reforms in foreign exchange management.
According to him, tackling corruption would remain central to ensuring the success of such economic measures.
“I would remove it to determine the exact amount being spent on subsidy and also address the issue of exchange rate deregulation. But in doing these things, the most important thing is to fight corruption head-on,” Obi added.
He emphasised that major economic reforms should be implemented in ways that minimise hardship and protect ordinary Nigerians from avoidable economic shocks.
