Former Labour Party presidential candidate, Peter Obi has revisited the Federal Government’s decision to remove fuel subsidy, saying the policy has not been implemented in line with the commitments made when it was first announced.
Speaking during an interview on SYMFONI TV from 3:24, Obi referenced President Bola Ahmed Tinubu’s declaration on inauguration day, arguing that the stated objectives of the subsidy removal have not been reflected in current economic realities.
Obi read from Tinubu’s initial speech, reminding Nigerians of the promises made regarding the rationale behind the policy. “If you read the statement of removal of subsidy, he said ‘for us to stop borrowing’ and the gains of the subsidy to be invested in turning around the economy,” he noted. According to Obi, the removal was presented as a strategic step to stabilize public finances and channel savings into critical sectors such as infrastructure, education, healthcare, and job creation.
However, the former governor expressed concern that the country continues to witness rising debt levels, worsening inflation, and increased hardship, contrary to the expectations set by the government. He argued that the promise of redirecting subsidy savings into productive investments has not materialised, leaving millions of Nigerians struggling under unprecedented economic pressure.
Obi stressed that while subsidy removal can be a positive fiscal tool when properly planned and transparently executed, it must be backed by clear economic reforms and measurable results. He lamented that Nigerians have instead faced escalating fuel prices, rising transportation costs, and reduced purchasing power without seeing tangible improvements in governance or public services. View, More,
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