Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has backed the removal of petrol subsidy, saying the policy was necessary but accusing the Federal Government of mismanaging the savings.
Speaking at a Nigerian Bar Association (NBA) conference in Port Harcourt, Rivers State, Obi said subsidy removal should have been accompanied by measures to cushion its impact on Nigerians.
He argued that the reported N16 trillion recovered from the policy should have been channelled into critical sectors, particularly healthcare.
Obi said just five per cent of the reported savings—about N800 billion—could have been used to improve primary healthcare infrastructure and establish healthcare centres across the country’s wards.
He also called for greater investment in kidney treatment facilities and suggested that part of the funds could have been placed in Nigeria’s sovereign wealth fund.
The former Anambra State governor maintained that mismanagement of subsidy savings should not be used as a reason to reverse the policy.
“Mismanagement of the proceeds shouldn’t be the reason for not removing it,” Obi said.
He also criticised government officials for asking Nigerians to endure economic hardship while public resources were allegedly being poorly managed.
“People in government have asked Nigerians to fast. Okay. They cannot be feasting when Nigerians are fasting,” he said.
Obi maintained that the focus should be on ensuring that the savings from subsidy removal are transparently invested in projects that directly improve the lives of Nigerians.
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