The 2023 presidential candidate of the Labour Party (LP), Peter Obi has said he would have removed fuel subsidy and floated the naira if he had been elected president—but in a more gradual and transparent manner than the current administration.
Speaking during an interview with Arise Television on Monday, the former Anambra State governor maintained that while subsidy removal was inevitable, it should not have been executed in a way that inflicted hardship without visible gains.
“Everybody knows that the criminality and corruption associated with the petrol subsidy regime had to end,” Obi said. “But the question is: where is the money that has been saved since the subsidy was removed? Why are Nigerians not seeing any meaningful impact?”
He however criticised the federal government for failing to channel savings from the controversial policy into vital sectors such as infrastructure, healthcare, and education.
According to him, the country has not seen any significant development since the removal of subsidy.
“If I had been elected, I would have removed the subsidy and floated the naira, but it would have been done gradually and in an organised fashion, with proper negotiations,” Obi stated.
He also noted that fair pricing mechanisms would have been negotiated with oil marketers and relevant industry operators to ensure citizens were not arbitrarily burdened.
