Peter Obi, presidential candidate of the Nigeria Democratic Congress, NDC, has explained how he would have approached the removal of fuel subsidy if elected president, stating he would have done so in a structured and consultative way rather than on inauguration day. Obi made the remarks in an interview with Rufai Oseni, clarifying that he did not criticize President Bola Tinubu for ending the subsidy, but rather disagreed with the timing and method. He emphasized that before any announcement, he would have engaged stakeholders in the petroleum sector due to the known issues of corruption surrounding the subsidy regime. Obi said he would have first determined the true cost of the subsidy and addressed exchange rate deregulation as part of a broader anti-corruption strategy. He questioned the current economic outcome, noting that despite the removal, Nigeria has since taken on more debt than it did when the subsidy was still in place. Obi maintained that fighting corruption head-on is central to any successful economic reform. He did not suggest reinstating the subsidy but stressed the need for transparency and planning in implementing such policies. His comments come in the aftermath of widespread public debate over the economic measures introduced by President Tinubu after assuming office in 2023. The discussion continues to shape political discourse ahead of future policy decisions.
Obi's admission that he too would have removed fuel subsidy contradicts his public stance during the election campaign when he opposed the policy. He offered no evidence that stakeholder consultations would have reduced borrowing or inflation after removal. His focus on corruption as a barrier to reform ignores that his own party has not presented a verifiable anti-graft roadmap. The debt levels he cites were approved by the same legislature his coalition supported.
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