Obi Critiques Government on Petrol Subsidy Management

Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), criticized the Federal Government's handling of the savings from the removal of petrol subsidies during an interview on Arise News on Thursday. He stated that despite the government disclosing that the subsidy removal generated approximately N15.8 trillion, Nigerians have not seen any benefits and have instead been impoverished.

Obi argued that the issue lies not in the removal of the subsidy itself but in the failure to utilize the savings effectively. He suggested that the funds should be strategically invested in productive sectors like agriculture and small businesses to foster economic growth.

Obi also pointed out that the current high prices of petroleum products could be mitigated by ensuring regular supply to local refineries. He reiterated his commitment to fighting corruption associated with subsidies and emphasized the importance of transforming Nigeria from a consumption-based economy to a production-oriented one.