The presidential campaign council of Peter Obi has said his plan to restore petrol subsidy if elected in 2027 would not amount to a return to the subsidy regime abolished by President Bola Tinubu.
The campaign council said Obi’s position was to make petrol affordable while eliminating the corruption it associates with the former subsidy system.
The clarification followed comments by Obi, the Nigeria Democratic Congress presidential candidate, that he would retain a subsidy but “remove the corruption” surrounding it if elected.
Speaking on Arise Television’s News Night, a campaign spokesperson, Emmanuel Idakwo, said Obi had remained consistent in his opposition to the old subsidy arrangement.
“He has been consistent on what he has been saying,” Idakwo said, arguing that Obi had opposed the previous regime because of the corruption associated with it.
According to him, an Obi administration would first dismantle the corrupt system before introducing a different arrangement to keep fuel affordable.
“You would still reinstate the subsidy, but it will not be the exact old subsidy regime we had,” he said.
Obi had repeatedly advocated the removal of petrol subsidy during the 2019 and 2023 election cycles, arguing that funds spent on the scheme should instead be channelled into sectors such as education and healthcare.
However, speaking at the 2026 Nigerian Bar Association conference in Port Harcourt, Rivers State, Obi maintained that subsidy removal was necessary but criticised the current administration for allegedly mismanaging the savings from the policy.
“I subscribe and maintain that you need to remove subsidy. Mismanagement of the proceeds shouldn’t be the reason for not removing it,” he said.
Idakwo said the proposed policy would be supported by measures to increase domestic refining and reduce Nigeria’s dependence on imported fuel.
He said an Obi administration would encourage private investment in refineries while expanding the country’s refining capacity to reduce fuel shortages.
“You’ll discover that it’s very difficult for us to have fuel scarcity,” he said.
The campaign spokesperson also said Nigeria must move from consumption to production, particularly by diversifying the economy through agriculture and other productive sectors.
On corruption, Idakwo said an Obi administration would begin its anti-graft efforts with the President, arguing that leadership conduct would influence the behaviour of public officials.
“Tackling corruption starts from the commander-in-chief,” he said.
He added that government spending would be made transparent and officials would be held accountable for public funds.
Idakwo did not disclose how much an Obi administration would spend on subsidy, saying the candidate would provide details.
President Tinubu announced the removal of petrol subsidy on May 29, 2023, and has repeatedly defended the policy as necessary to address distortions in the economy.
Discussion0