2027: Obi will restore fuel subsidy in ‘different form’ — Kwankwaso

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The Vice Presidential candidate of the Nigeria Democratic Congress (NDC), Rabiu Kwankwaso, has said a government led by the party’s presidential candidate, Peter Obi, would reintroduce fuel subsidy, but through a different approach.

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Kwankwaso, a former Kano State governor, said this during an interview with Arise News while discussing fuel pricing and the economic policies of President Bola Tinubu’s administration.

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He said the NDC would seek ways to reduce the cost of petrol for Nigerians, including increased investment in domestic refining.

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“No, no, no, look. We are bringing subsidy in our own way,” Kwankwaso said when asked whether the party’s position on subsidy would affect its campaign in the North-West.

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Explaining the proposed approach, he said government could establish more refineries to boost local production and reduce dependence on imported petroleum products.

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According to him, the expansion of domestic refining capacity would help ensure that Nigerians can purchase petrol at what he described as a reasonable price.

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“Now, if individuals in this country could build refineries, I see no reason why government, under certain circumstances, will not build a refinery or refineries to the extent that we achieve the minimum requirement,” he said.

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Kwankwaso said the NDC would prioritise measures aimed at lowering fuel prices.

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“What is the minimum requirement? The minimum requirement is for the people across the country to go to the filling stations and buy fuel at a reasonable price,” he added.

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“We, in the NDC, will do whatever it takes, really, to put the price of oil down.”

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The NDC chieftain also criticised how Tinubu removed the petrol subsidy shortly after assuming office in 2023.

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He noted that the major presidential candidates in the 2023 election had supported subsidy removal but faulted Tinubu for implementing the policy immediately.

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According to him, the decision was taken without adequately addressing the consequences associated with subsidy removal.

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“And not only he decided to remove the subsidy, what he did was to remove it immediately — in fact, day one — without looking at all those possible issues that were associated with that,” Kwankwaso said.

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