The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has said he would restore petrol subsidy if elected president in 2027, arguing that corruption, rather than the subsidy itself, was the major problem with the scheme.
Obi made the statement on Tuesday during an interview with the BBC, where he explained that his administration would seek to eliminate the corruption associated with subsidy payments before retaining the policy.
Asked directly whether he would bring back the subsidy if elected, Obi replied in the affirmative.
“Yes. But remember, I have qualified it, not with the corruption that’s associated with it. I’ll remove the corruption and retain the subsidy,” he said.
Obi said his position was not a departure from his longstanding concerns about the subsidy system, maintaining that corruption had been at the centre of the problem.
“From day one, I’ve talked about subsidy. I talked about corruption; corruption is the problem of subsidy,” he said.
His latest position contrasts with his stance during the 2023 presidential campaign, when he repeatedly backed the removal of petrol subsidy. In January 2023, Obi, then the presidential candidate of the Labour Party, said he would remove the subsidy immediately if elected, describing it as “organised crime”.
In June 2023, shortly after President Bola Tinubu announced the removal of petrol subsidy, Obi reiterated that he had consistently supported its removal but argued that the process should have been accompanied by relief measures to cushion its impact on Nigerians.
President Tinubu announced the removal of the petrol subsidy during his inauguration on 29 May 2023. The policy has since remained a major issue in debates over the government’s economic reforms and their impact on Nigerians.
Obi’s latest position also follows comments by his running mate, Rabiu Kwankwaso, who recently backed the reintroduction of subsidy in a different form if the NDC wins the 2027 presidential election.
Kwankwaso said the proposed approach would involve increased investment in domestic refineries and petroleum production to make petrol available to Nigerians at a more affordable price.
During the BBC interview, Obi also addressed his proposed approach to tackling corruption, arguing that the conduct of the President and members of the President’s immediate family would influence the fight against corruption.
“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” he said.
He was also asked about former President Muhammadu Buhari’s anti-corruption record and the efforts made during his administration to keep members of his family away from government affairs.
“Nigerians should not decide with that. He was not in charge. The difference is that I’ll be in charge,” Obi said.
Obi further rejected suggestions that he should step aside if opposition parties eventually agree to field a consensus candidate for the 2027 presidential election.
“We don’t need to step down. We need to do the right thing,” he said.
The debate over petrol subsidy is expected to remain part of discussions surrounding the 2027 election, with political parties and candidates offering different positions on how to address fuel prices, corruption and the wider economic impact of subsidy policies.
