Peter Obi, the presidential candidate of the Labour Party in the 2023 election, expressed his views on the ongoing issue of fuel subsidy in Nigeria.
In a recent interview on Arise TV’s ‘The Morning Show’, Obi described fuel subsidy as an organised crime and discussed his proposed approach to resolving the looming strike by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
During the interview, Obi emphasised the need to tackle corruption and criminal activities associated with fuel subsidy.
He argued that removing these elements would significantly reduce the subsidy’s cost, possibly by up to 50 percent.
The remaining 50 percent, according to Obi, could be addressed through a consultative process involving various stakeholders.
This approach would not only mitigate the burden of fuel subsidy but also ensure that the gains from its removal are channelled towards projects and initiatives that benefit the Nigerian people.
“Fuel subsidy is organised crime. I said it repeatedly that it should be removed,” Obi said. “For me, the approach would have been, is to remove the corruption and criminal side of it and remove the excess demand.”
“By doing this, you would have reduced it by 50 per cent. The remaining 50 per cent is what we would have been able to, after consultation with various stakeholders in order to find a way in an organised manner, remove and show the proceed of the gains of the removal to be invested in critical development areas.”
News About Nigeria reports that the former Anambra State governor concluded the interview by expressing optimism about Nigeria’s future, suggesting that with the right strategies and leadership, the country can overcome its challenges and achieve progress.