Obi Makes U-turn, Vows to Reintroduce Fuel Subsidy If Elected

The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has declared that he would reintroduce petrol subsidy if elected in 2027, provided the corruption he associated with the scheme is eliminated.

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Obi made the clarification during a BBC interview on Tuesday, revising the position he canvassed during the 2023 presidential election when he supported the removal of fuel subsidy and the use of the savings for critical sectors of the economy.

The former Anambra State governor argued that subsidy itself was not the fundamental problem, identifying corruption in its administration as the major challenge.

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

When asked directly if he would restore the subsidy as President, he replied, “Yes,” adding that his government would first remove the corrupt practices surrounding the programme before retaining the subsidy.

The declaration aligns with a recent position by his running mate, Rabiu Kwankwaso, who had disclosed that the opposition would pursue its own model of subsidy if it takes power in 2027.

Kwankwaso had argued that increased investment in domestic refining and petroleum production could help make petrol available to Nigerians at a more affordable price, while criticising the manner in which the current administration ended the subsidy regime.

Obi also said tackling corruption would begin with the conduct of the President and members of the First Family, stressing that leaders must lead by example if they want to reduce corrupt practices in government.

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

Meanwhile, Obi dismissed the possibility of withdrawing from the 2027 presidential contest to allow another opposition candidate emerge as a consensus candidate, insisting that the opposition needed to focus on doing what was required to defeat the ruling party.

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

The subsidy debate has remained a major political and economic issue since President Bola Tinubu announced its removal at his inauguration in May 2023. While the Federal Government has maintained that ending the policy was necessary to reform the economy, opposition politicians have continued to propose different measures to ease the impact of high fuel prices on Nigerians.