Cleric Warns Fuel Subsidy Restoration Could Ruin Nigeria

Cleric Maraya has expressed strong opposition to calls for the restoration of fuel subsidies in Nigeria, particularly ahead of the 2027 general elections. He stated that the country cannot afford the financial burden of reinstating the subsidy, which would require approximately N52.3 billion daily, totaling about N1.6 trillion monthly and over N19 trillion annually.

Maraya emphasized that Nigeria's economy cannot sustain such expenses, especially with a 2026 budget of N68.3 trillion. He warned that reinstating the subsidy could lead to an economic collapse and disrupt government operations.

Maraya called for urgent rehabilitation of existing refineries and the construction of new ones to enhance domestic refining capacity. He urged Nigerians to remain patient with the subsidy removal, asserting that the funds saved could be redirected to vital development projects.

Additionally, he cautioned politicians running for office in 2027 against making unrealistic promises, urging them to be transparent about the economic realities facing the nation.