Former Anambra State Governor and Nigeria Democratic Congress (NDC) Presidential candidate, Peter Obi has backed the policy direction of the President Bola Tinubu administration on ending petrol subsidy, maintaining that the fuel subsidy had to go despite ongoing public dissatisfaction.
Speaking during a panel session at the Nigerian Bar Association (NBA) Annual General Conference in Port Harcourt, Obi pointed out that his own campaign manifesto clearly outlined plans to eliminate the subsidy.
He stressed that the widespread mismanagement of post-subsidy revenues is not a valid justification for reinstating the policy, making it clear that removing the burden was the right economic call.
However, the former Anambra State governor strongly faulted the Federal Government’s handling and deployment of the recovered funds.
Obi argued that the real failure lies in the administration’s utilisation of the proceeds, which he claimed are being mismanaged, stolen, and wasted rather than channeled into strategic sectors like healthcare or saved in the sovereign wealth fund to generate sustainable monthly returns.
He contended that while subsidy removal itself was necessary, the administration has failed to provide organized, transparent alternatives and tangible investments that directly benefit the Nigerian people.