By Niger Delta Herald Reporter
Presidential candidate of the Nigeria Democratic Congress (NDC), Mr Peter Obi, has disagreed with the presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, over the latter’s proposal to restore fuel subsidy if elected president in 2027.
Obi said the removal of petrol subsidy remained necessary, arguing that the major problem was not the policy itself but the failure of successive governments to properly manage and invest the resources saved from its removal.
The former Anambra State governor stated this on Monday while speaking at the Nigerian Bar Association (NBA) Annual General Conference in Port Harcourt, Rivers State, where presidential candidates and other political actors discussed major issues confronting Nigeria ahead of the 2027 general elections.
Atiku, who had advocated the removal of fuel subsidy during the 2023 presidential election, has recently changed his position, saying he would restore the subsidy if elected president in 2027.
However, Obi rejected the argument that subsidy should be restored because of the hardship associated with its removal.
According to him, Nigeria needed to remove the subsidy but should have put in place measures to protect vulnerable Nigerians from the immediate consequences of the policy.
Obi said the savings from subsidy removal ought to have been channelled into productive sectors of the economy and used to provide alternatives that would reduce the burden on citizens.
“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 said.
He added that the government should have provided Nigerians with alternative means of cushioning the effects of the policy immediately after its implementation.
“What we should have done is that when we removed it, we should have given the people alternative usage for the subsidy,” he said.
Obi further alleged that the resources recovered following subsidy removal had not been properly managed.
“What we have today is that that removal and the attendant resources being recovered is also being mismanaged and stolen,” he said.
The NDC presidential candidate said his position on subsidy removal was not a recent development, noting that he had already outlined his approach in his manifesto ahead of the 2023 presidential election.
He maintained that his proposal had been to remove the subsidy in an organised manner and ensure that whatever resources were recovered were transparently and appropriately invested.
“Go to my manifesto, I said it before, I said I will do it in an organised manner and whatever we recover would be invested appropriately,” Obi stated.
Atiku’s new position Atiku’s proposal to restore fuel subsidy has generated considerable debate as political parties and presidential aspirants position themselves ahead of the 2027 election.
The former Vice-President had supported subsidy removal during the 2023 presidential campaign but has now argued that the policy, as implemented, has imposed excessive hardship on Nigerians.
His new position has also attracted criticism from the Presidency and other political actors, who have accused him of reversing his earlier position for political reasons.
The debate has consequently become one of the major economic issues likely to feature prominently in the 2027 presidential campaign.
Subsidy removal President Bola Ahmed Tinubu announced the removal of petrol subsidy on May 29, 2023, shortly after his inauguration as President.
The announcement triggered a sharp increase in petrol prices and contributed to rising transportation and living costs across the country. Supporters of subsidy removal have consistently argued that the policy was financially unsustainable and had become a major drain on government resources, while critics have maintained that the government should have introduced adequate measures to protect Nigerians before removing it.
The disagreement between Obi and Atiku therefore reflects a broader debate over how Nigeria should manage petroleum pricing, government expenditure and social protection ahead of the 2027 elections.
Opposition candidates clash over policies The fuel subsidy controversy formed part of a wider political debate at the NBA conference in Port Harcourt, where several presidential hopefuls offered differing solutions to Nigeria’s economic and security challenges.
Former Rivers State governor and ADC vice-presidential candidate, Mr Rotimi Amaechi, called for increased job creation and local production as part of measures to strengthen the economy and put more money in the hands of Nigerians.
Presidential candidate of the African Action Congress (AAC), Mr Omoyele Sowore, on his part, called for a change of government, arguing that Nigeria’s worsening security situation could not be adequately addressed under the current administration.
Sowore also criticised the manner in which fuel subsidy had historically been administered, maintaining that the policy had largely benefited the political and economic elite rather than ordinary Nigerians.
He said he had consistently opposed the subsidy regime because of what he described as its flawed implementation.
The different positions expressed by the presidential contenders underscore the emerging policy battle ahead of the 2027 election, with the economy, fuel pricing, security, job creation and governance expected to dominate the campaigns.
As political parties intensify preparations for the election, the disagreement over whether Nigeria should maintain the current fuel pricing regime or return to subsidy is expected to remain a major issue in the national political debate.