Peter Obi: I Would Have Removed Fuel Subsidy Through a Structured Process

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has said he would have removed Nigeria’s fuel subsidy if elected president, but would have adopted a more deliberate and organised approach.

Obi stated that while he supports the policy of subsidy removal, he disagreed with the manner in which it was implemented by President Bola Tinubu in 2023.

Speaking during an interview with media personality Rufai Oseni, the former Anambra State governor clarified that he never opposed the removal of the subsidy itself. Rather, he questioned the process and timing of the decision.

According to Obi, he would not have announced such a major economic policy during his inauguration. Instead, he said he would have first consulted key stakeholders and operators within the petroleum industry before taking action.

“I did not criticise Tinubu for removing the subsidy. I have always maintained that I would have removed it too, but in a more organised manner. I would not have made the announcement on inauguration day,” Obi said.

He argued that extensive engagement with industry players was necessary, especially given what he described as widespread irregularities and corruption associated with the subsidy regime.

Obi further explained that subsidy removal should be accompanied by efforts to accurately determine the actual cost of the programme, address exchange rate reforms, and aggressively tackle corruption.

He maintained that economic reforms must be carefully implemented to minimise hardship and protect ordinary Nigerians from the negative effects of policy changes.

The former governor stressed that transparency, accountability and proper planning are essential for the success of major economic reforms, particularly those that directly affect citizens’ cost of living.