Rabiu Kwankwaso, the Vice Presidential candidate of the Nigeria Democratic Congress (NDC), has stated that a government led by the party's presidential candidate, Peter Obi, would reintroduce fuel subsidy, but through a different approach. During an interview with Arise News, Kwankwaso discussed fuel pricing and the economic policies of President Bola Tinubu's administration. He emphasized that the NDC would seek ways to reduce the cost of petrol for Nigerians.
Kwankwaso, a former Kano State governor, explained that the proposed approach would involve increased investment in domestic refining. He suggested that the government could establish more refineries to boost local production and reduce dependence on imported petroleum products. This, he believes, would help ensure that Nigerians can purchase petrol at a reasonable price.
According to Kwankwaso, the expansion of domestic refining capacity is crucial to achieving the minimum requirement of making fuel affordable for Nigerians. He stated that if individuals can build refineries, there is no reason why the government cannot do so under certain circumstances. The NDC chieftain emphasized that his party would prioritize measures aimed at lowering fuel prices.
Kwankwaso also criticized how President Tinubu removed the petrol subsidy shortly after assuming office in 2023. He noted that the major presidential candidates in the 2023 election had supported subsidy removal but faulted Tinubu for implementing the policy immediately. Kwankwaso believes that the decision was taken without adequately addressing the consequences associated with subsidy removal.
The NDC vice-presidential candidate argued that Tinubu's administration did not consider the possible issues associated with subsidy removal. He emphasized that the NDC would do whatever it takes to put the price of oil down. Kwankwaso's statement has sparked debate about the NDC's economic policies and its plans for fuel subsidy.
Peter Obi, the presidential candidate of the Nigerian Democratic Congress, has been making statements about his party's plans for the country. Recently, he declared that Seyi Makinde, the Oyo State Governor, is qualified to be Nigeria's president. The NDC's plans for fuel subsidy and economic policies are expected to be a major issue in the 2027 election.
The fuel subsidy regime has been a contentious issue in Nigeria, with different administrations implementing various policies to manage the subsidy. The NDC's proposal to reintroduce fuel subsidy in a different form is expected to resonate with many Nigerians who are struggling with the high cost of living.
Key points
- The Nigeria Democratic Congress plans to reintroduce fuel subsidy through increased investment in domestic refining.
- Rabiu Kwankwaso criticizes President Tinubu's administration for removing fuel subsidy without addressing its consequences.
- Peter Obi's party aims to reduce the cost of petrol for Nigerians through its proposed economic policies.
