presidential candidate Peter Obi, has said the removal of fuel subsidy must translate into tangible benefits for Nigerians, stressing that citizens should not bear higher energy costs while savings from the policy remain unaccounted for.
Obi stated this while speaking as a guest and panellist alongside other presidential candidates and their representatives at the 66th Annual General Conference of the Nigerian Bar Association (NBA) at the Yakubu Gowon Stadium in Port Harcourt, Rivers State.
He said the discussion focused on ways to rebuild Nigeria and improve the living conditions of its citizens, adding that years of mismanagement and corruption had contributed significantly to the poverty and hunger confronting Nigerians.
“With our vast human and natural resources, Nigeria has no business being associated with extreme poverty and hunger. We have no business importing food when we possess enormous agricultural potential,” Obi said.
On fuel subsidy removal, Obi maintained that his position had remained unchanged since 2023, when he advocated for addressing corruption in the subsidy system before implementing a carefully planned and phased removal.
“On fuel subsidy removal, I remain committed to the position I took in 2023: the subsidy system was riddled with corruption. My approach was to eliminate the corruption, establish the actual subsidy cost, and then carry out a carefully planned, phased removal,” he said.
He said savings from subsidy removal should be transparently invested in critical sectors, particularly agriculture, healthcare, education, poverty reduction and security.
“Subsidy removal must deliver real benefits to Nigerians; citizens should not bear higher energy costs while the savings remain unaccounted for or fail to improve their lives,” Obi said.
He also called for increased investment in food security, healthcare, education, infrastructure, human capital development, national security and national unity.
According to him, Nigeria’s agricultural potential, particularly in the northern part of the country, could drive major economic transformation if supported by the right policies, investment and political will.
“With the right investment, policies, and political will, agriculture can become one of Nigeria’s greatest sources of wealth,” he said.
Obi said Nigeria had the resources required to prosper, but needed competent, honest and purposeful leadership focused on the common good.
“Nigeria has all it needs to prosper. What remains is competent, honest, and purposeful leadership that puts the common good above personal interests,” he said.
He added: “A New Nigeria is possible, and Nigeria will be OK.”