Oyedele Questions Obi's Petrol Subsidy Plan Amid Corruption Concerns

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, has challenged Peter Obi, the presidential candidate of the Nigeria Democratic Congress, regarding his promise to restore petrol subsidy if elected in 2027. During an appearance on Channels Television, Oyedele questioned the rationale behind Obi's proposal, suggesting that it would bring back the corruption that the current administration, led by President Tinubu, has worked to eliminate.

Oyedele stated, “With what Mr President has done, he has removed the corruption. So would you bring the corruption back so that you can fight it, remove it, and then bring back subsidy?

It’s not adding up.” He also dismissed the idea that petrol prices could be significantly reduced to between ₦400 and ₦1,000 per litre without addressing the underlying costs of production and refining, emphasizing that refining is a low-margin business reliant on high production volumes.