The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has said he would restore petrol subsidy if elected president in 2027, reversing his earlier position on the policy.
Obi made the declaration during an interview with the BBC on Tuesday, arguing that corruption, rather than the subsidy itself, was the major problem with the scheme.
“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,” Obi said.
During his 2023 presidential campaign, the former Anambra State governor had supported the removal of petrol subsidy, saying the funds should be redirected to education, healthcare, infrastructure and other areas of national development.
His latest position comes about two weeks after his running mate, Rabiu Kwankwaso, said an NDC government would reintroduce subsidy “in our own way” if elected in 2027.
Kwankwaso had explained that the proposed approach would focus on investing in domestic refineries and petroleum production to make petrol available to Nigerians at a reasonable price.
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023, declaring that “fuel subsidy is gone.”
The policy has remained a major political and economic issue, with opposition figures criticising its implementation while the Federal Government has defended it as necessary for the economy.
Obi also rejected calls for him to step down for another opposition candidate if opposition parties decide to field a consensus candidate in 2027.
“We don’t need to step down. We need to do the right thing,” he said.
The NDC candidate also said his approach to fighting corruption would begin with his personal conduct and that of his immediate family.
“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” Obi said.
With the 2027 election approaching, subsidy remains a key campaign issue as political parties debate whether to restore, reform or replace the policy.
