Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC) and former Governor of Anambra State, has reaffirmed his support for the removal of the petrol subsidy, insisting that alleged mismanagement of the proceeds should not justify reversing the policy.
Speaking on Monday during a panel session at the 66th Annual General Conference of the Nigerian Bar Association (NBA) in Port Harcourt, Obi stated clearly: “I subscribe, and I maintain that you need to remove subsidy. Mismanagement of the proceeds should not be the reason for not removing it.”
He argued that the core problem was not the decision to end the subsidy but the failure to provide Nigerians with practical alternatives and the subsequent poor handling of the savings generated. “What we should have done is that when we remove subsidy, we would have given the people an alternative usage for the subsidy. What we have today is that that removal and attendant resources being recovered are also being mismanaged and stolen,” Obi said.
Obi noted that the Federal Government has reported recovering about ₦16 trillion from the subsidy removal. He maintained that these funds should have been transparently channelled into critical sectors such as healthcare and education. He suggested, for instance, that a fraction of the reported savings could have funded primary healthcare infrastructure across the country’s wards.
Referencing his earlier campaign positions, Obi pointed to his manifesto, where he had advocated removing the subsidy “in an organised manner” and investing the recovered resources appropriately. He contrasted this approach with the current situation, arguing that proper investment or even saving the funds into a sovereign wealth fund could have created sustainable long-term benefits for the country.
Obi’s remarks come amid renewed debate over fuel subsidy policy ahead of the 2027 elections, including statements by other political figures suggesting a possible restoration of the subsidy. He firmly rejected that path, maintaining that the policy of removal remains necessary despite implementation shortcomings.
Obi has consistently held that the old subsidy regime was riddled with inefficiencies and corruption, but stressed that ending it without clear, verifiable plans for the use of savings and support for citizens has deepened hardship.