Peter Supports Tinubu on Fuel Subsidy Removal, But...

Peter Obi, the former governor of Anambra State and the presidential candidate of the Labour Party, has always supported the removal of fuel subsidy. He has said that the subsidy is a drain on the economy and that it is not sustainable. He has also said that the government should use the money saved from the removal of subsidy to improve the lives of Nigerians.

Obi’s position on fuel subsidy removal is in line with the position of the International Monetary Fund (IMF). The IMF has repeatedly urged Nigeria to remove fuel subsidy, arguing that it is a waste of money and that it distorts the market.

However, there are many Nigerians who oppose the removal of fuel subsidy. They argue that it will lead to higher fuel prices and that it will make life more difficult for the poor.
Obi said, “If you have followed me very well right from the time I was a member of Jonathan’s economic management team, I consistently maintained that subsidy should be removed because I see it as organized crime. People were just stealing the resources of the country and I showed empirically in my statistical analysis that we are not consuming the amount of fuel they claim we consume.”

Obi has said that he understands the concerns of Nigerians, but he believes that the removal of fuel subsidy is necessary for the long-term health of the economy. But he said his approach would be different from what is obtainable presently. The former Anambra state Governor gave an instance of a person with toothache who has two options available to him.

He said, “for me, I will go with the approach of the dentist while supporting the removal of the tooth because I wouldn’t want to go through the pain of forceful removal.”

He has promised to cushion the impact of the removal of subsidy by providing alleviating measures to the poor and by investing in public transportation.

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