Vice-President Kashim Shettima has defended the Federal Government’s petrol subsidy removal, urging economists to support its policies while criticising former Anambra State governor Peter Obi ahead of the 2027 elections.
Shettima made the remarks at an event in Abuja on Monday, arguing that Obi, the presidential candidate of the Nigeria Democratic Congress, had offered little beyond economic statistics.
“I respect Peter Obi for having the courage to say he’s not going to restore the petrol subsidy, but beyond spouting some statistics, Mr Peter Obi has absolutely nothing to offer,” the Vice-President said.
He urged members of Nigeria’s economic community to support the government’s policies, adding that Obi relied heavily on statistics in his criticism of the administration.
Shettima also defended the removal of the petrol subsidy by comparing fuel prices in Nigeria with those in neighbouring countries.
He said Nigeria previously consumed about 67 million litres of petrol daily, arguing that the country’s former fuel pricing arrangements had benefited other African countries.
According to him, petrol costs about N1,148.36 per litre in Niger Republic, N1,729.29 in Benin Republic and N1,945.50 in Cameroon, compared with N1,390 in Nigeria.
“The comparison is wide. Nigeria was Christmas for other African countries,” he said.
The Vice-President’s comments come amid renewed political debate over the economic impact of subsidy removal and the Federal Government’s management of the economy.
Obi has frequently criticised government policies using economic data and public spending figures, while advocating fiscal discipline, transparency and accountability.
Shettima had previously described Obi as a “master of bogus statistics” during political exchanges following the 2023 presidential election.
President Bola Tinubu announced the removal of the petrol subsidy in May 2023, shortly after assuming office. The decision triggered higher petrol prices and increased transportation and living costs.
The Federal Government has defended the policy as necessary to ease the burden of subsidy payments on public finances, while opposition figures have called for stronger measures to cushion Nigerians against rising costs.
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