Kwankwaso: Obi's NDC will bring back fuel subsidy in a new way

The Vice Presidential candidate of the Nigeria Democratic Congress, Rabiu Kwankwaso, has said that if Peter Obi becomes president, his administration will bring back fuel subsidy but in a new way.

Kwankwaso, who used to be the governor of Kano State, said this in an interview with Arise TV on Tuesday.

He talked about the fuel subsidy policy under President Bola Tinubu and what the presidential candidates are saying as the 2027 election approaches.

When asked if it would be hard for the NDC to campaign in the North-West, where many people want the subsidy back, Kwankwaso said, “No, no, no, look. We are bringing subsidy in our own way.”

He explained how the party plans to do this. He said the government could invest in refineries to boost local production and ensure petrol is sold to Nigerians at what he called a reasonable price.

Kwankwaso stated, “Of course, there are many ways. One, I can tell you: now we have a refinery built by a businessman, and I’m sure more refineries would be built.”

He added, “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 went on to explain, “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.”

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

He also pointed out that the three main presidential candidates in the 2023 election, including Vice President Atiku Abubakar, campaigned on removing the fuel subsidy. He criticized Tinubu for taking action on this right after he became president.

He said, “No, that’s what I know. Of course, among the three of them, Bola Tinubu decided to do so and removed the subsidy. And the consequences that we thought would happen, certainly happened.”

Kwankwaso continued, “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. And that’s how we find ourselves in this total mess, economically.”

Tinubu announced the end of petrol subsidy in his inaugural speech on May 29, 2023, saying, “subsidy is gone.”

Since then, petrol prices have jumped from below N200 per litre to over N500 in many areas, causing transport and other costs to rise as well.

In a broadcast in July 2023, Tinubu admitted that the policy raised the cost of fuel, food, and other goods. He argued that the subsidy had become too expensive and that the money saved from its removal would go to other needs.

Kwankwaso’s remarks come as opposition politicians keep sharing different views on the subsidy as the 2027 elections draw closer.