2027: Peter Obi Backs Subsidy Removal, Rejects Atiku’s Plan to Bring It Back

The 2027 presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has thrown his weight behind the removal of petrol subsidy, rejecting calls by former Vice-President Atiku Abubakar to restore it.

Obi said alleged mismanagement of the funds saved from subsidy removal should not be used as an argument for reversing the policy.

He spoke on Monday during a panel session at the Nigerian Bar Association (NBA) Annual General Conference in Port Harcourt, Rivers State.

The former Anambra State governor said he had always supported subsidy removal, stressing that the real problem was how the savings were being managed.

“I subscribe, and I maintain that you need to remove subsidy. Mismanagement of the proceeds should not be the reason for not removing it,” Obi said.

He argued that the government should have introduced measures to cushion the impact of the policy on Nigerians.

According to Obi, the savings should have been invested in sectors capable of improving living conditions, particularly healthcare.

“What we should have done is that when we remove subsidy, we would have given the people an alternative usage for the subsidy,” he said.

Obi alleged that the resources recovered from subsidy removal were being mismanaged and stolen instead of being used for national development.

“It’s what you use the money for that is the problem,” he added.

The issue of petrol subsidy has become a major political talking point ahead of the 2027 presidential election.

President Bola Tinubu removed the subsidy on May 29, 2023, triggering a sharp increase in petrol prices and raising transportation and living costs.

The Federal Government has defended the decision, arguing that money previously spent on subsidising petrol can now be directed towards development.

However, opposition politicians have continued to question how the savings are being utilised.

Atiku, the presidential candidate of the African Democratic Congress (ADC), has promised to restore a targeted subsidy if elected in 2027.

He argued that the Tinubu administration has failed to adequately account for the resources saved from subsidy removal.

Tinubu has opposed any return to the subsidy regime, maintaining that it could undermine his economic reforms.

While Obi shares Atiku’s concerns over the management of the funds, he disagrees with the former vice-president on restoring the subsidy.

For Obi, the priority should be ensuring that the money saved from subsidy removal is transparently managed and used to improve the lives of Nigerians.