Peter Obi, the presidential candidate of the Labour Party in the recent presidential election held on February 25, 2023, has finally expressed his stance on removing the fuel subsidy, announced by President Bola Tinubu last Monday.
Shortly after being sworn in, Tinubu declared that “subsidy is gone.”
On Tuesday, Obi, a proponent of subsidy removal, took to Twitter to share his views on the matter. He disclosed, “Even during President Goodluck Jonathan’s tenure when I served as a member of the Economic Management Team, I consistently advocated for the removal of subsidies.”
Obi strongly believed subsidies only facilitated organized crime, allowing specific individuals to exploit the country’s resources. He emphasized this point by presenting his empirical analysis, which revealed discrepancies between the claimed fuel consumption and the actual amount consumed.
To illustrate his perspective further, the former governor of Anambra State used an analogy of tooth extraction. He likened the removal of subsidies to a dentist applying local anesthesia before extracting a painful tooth. The dentist’s approach ensured that the patient didn’t experience excessive pain. Similarly, Obi asserted that while supporting subsidy removal, he would prioritize minimizing the potential hardships associated with the transition.
Referring to his manifesto, which outlined his plans for subsidy removal, Obi expressed his commitment to governing alongside the people. He aimed to provide them with statistical and empirical evidence, demonstrating the savings that could be achieved through subsidy removal and how those funds would be utilized to improve the lives of the suffering masses.