Kenneth Okonkwo Claims Tinubu's Government Reinstates Subsidy

Kenneth Okonkwo, a chieftain of the ADC, accused the Tinubu administration of effectively bringing back petrol subsidies through its 30-day petrol price discount. During an appearance on Channels Television, Okonkwo challenged the Federal Government's claim that the reduction in petrol prices was merely a discount and not a return to the subsidy regime.

He stated that the distinction between a subsidy and a discount is negligible when both serve to lower consumer costs. Okonkwo specifically criticized Taiwo Oyedele for asserting that the measure was not a subsidy, declaring, "Sorry to say this, Taiwo Oyedele lied when he said it was not subsidy." He argued that the government's intervention was necessary due to the rising cost of petrol and economic pressures on households.

The government reduced the pump price from about N1,500 to N1,350 per litre, indicating an acknowledgment of the need to provide relief to Nigerians. The Federal Government maintained that this initiative does not restore the petrol subsidy removed in May 2023, but Okonkwo contended that the economic purpose remains unchanged.