Presidential candidate of the Nigerian Democratic Congress, Peter Obi, has opposed former Vice President Atiku Abubakar’s proposal to reinstate petrol subsidy if elected in 2027.
Obi made his position known during a panel discussion at the Nigerian Bar Association conference in Port Harcourt, Rivers State, where several opposition presidential hopefuls debated the country’s economic and security challenges.
Atiku, who is the presidential candidate of the African Democratic Congress, had recently backed the return of fuel subsidy, despite campaigning for its removal during the 2023 presidential election.
Obi, however, argued that bringing back the subsidy would not address the underlying problems surrounding petrol pricing and public finances.
According to him, the removal of subsidy was necessary, but the major failure of the Federal Government was the management of the funds saved from the policy.
He said the resources recovered after subsidy removal should have been redirected into programmes that would cushion the impact of higher petrol prices on Nigerians.
Obi maintained that poor management or alleged diversion of the savings should not be used as an argument for reversing the policy.
He also noted that he had advocated a structured approach to subsidy removal in his manifesto ahead of the 2023 election, with emphasis on investing the savings for the benefit of citizens.
The petrol subsidy was removed by President Bola Tinubu in May 2023, shortly after his inauguration. The decision led to a significant rise in petrol prices and increased pressure on households and businesses.
Meanwhile, other opposition candidates at the NBA conference presented different positions on the economy, security and policing.
Former Rivers State Governor Rotimi Amaechi said Nigeria needed stronger job creation, increased local production and policies capable of improving household incomes. He also criticised what he described as an uneven distribution of political appointments under the present administration.
African Action Congress presidential candidate Omoyele Sowore called for a change of government, arguing that the current leadership had failed to adequately address the country’s security challenges.
Social Democratic Party candidate Adewale Adebayo proposed a three-level policing structure involving the Federal Government, states and local governments.
Former Cross River State Governor Donald Duke, another presidential contender, identified leadership as the major issue confronting the country, saying effective leadership would influence progress in other sectors.
The discussions also featured the Federal Government’s proposed state police system. President Tinubu’s Chief of Staff, Femi Gbajabiamila, defended the plan, saying reforms were necessary to address weaknesses in the existing centralised policing structure.
He stressed that any state policing arrangement would require safeguards to prevent political abuse and protect officers who refuse unlawful orders.
