Peter Obi Supports Tinubu's Petrol Subsidy Removal

Peter Obi, the 2027 presidential candidate of the Nigeria Democratic Congress (NDC), reiterated his support for the removal of petrol subsidy implemented by President Bola Tinubu. Speaking at the Nigerian Bar Association (NBA) Annual General Conference in Port Harcourt, Rivers State, on Monday, Obi stated that mismanagement of the funds recovered from the subsidy should not justify its reversal.

He argued that the government should have provided alternatives to mitigate the impact of the subsidy removal and ensure that the recovered resources were invested in critical sectors like healthcare. Obi mentioned that the Federal Government reported receiving about N16 trillion from the savings associated with the subsidy removal, advocating for transparent accounting and productive investment of these funds.

The subsidy removal has been a contentious issue since Tinubu announced it on May 29, 2023, leading to increased petrol prices and a rise in the cost of living. The debate continues as the 2027 presidential election approaches, with Atiku Abubakar of the African Democratic Congress promising to reinstate the subsidy if elected.