The Nigeria Democratic Congress (NDC) has pledged to introduce a new form of fuel subsidy if its presidential candidate, Peter Obi, wins the 2027 election, with the party also proposing increased government investment in refineries.
The NDC vice-presidential candidate, Rabiu Kwankwaso, disclosed this during an interview with Arise TV on Tuesday while outlining the party’s position on petrol pricing and the removal of subsidy by the Bola Tinubu administration.
Kwankwaso said the proposed approach would involve measures to increase domestic fuel production and make petrol available to Nigerians at what the party considers a reasonable price.
He also suggested that the government could build additional refineries to complement privately owned facilities, arguing that increased domestic refining would help reduce the cost of petrol.
“Of course, there are many ways. One, I can tell you: now we have a refinery built by a businessman, and I’m sure more refineries would be built.
“Now, if individuals in this country could build refineries, I see no reason why government, under certain circumstances, will not build a refinery or refineries to the extent that we achieve the minimum requirement.
“What is the minimum requirement? The minimum requirement is for the people across the country to go to the filling stations and buy fuel at a reasonable price.
“We, in the NDC, will do whatever it takes, really, to put the price of oil down,” he said
Kwankwaso criticised the immediate removal of petrol subsidy by the Tinubu administration in May 2023, saying the decision contributed to higher fuel, transport and living costs.
President Tinubu announced the end of the petrol subsidy in his inaugural address on May 29, 2023. Petrol prices subsequently rose significantly, with the policy becoming a major issue in the economic and political debate ahead of the 2027 elections.
Kwankwaso said the three leading presidential candidates in the 2023 election had campaigned on subsidy removal, but faulted Tinubu for implementing the policy immediately after assuming office.
The NDC’s position adds to the differing proposals from opposition politicians on how to make petrol more affordable, with parties debating whether subsidy should be restored, modified or replaced with other measures.
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