Peter Obi: I Support Fuel Subsidy Removal, But Tinubu’s Execution Lacked Planning and Accountability

 

Former presidential candidate of the Labour Party (LP), Peter Obi, has voiced sharp criticism of President Bola Ahmed Tinubu’s execution of the controversial fuel subsidy removal, pointing to a lack of planning and inadequate support measures for Nigerians affected by the decision.

Although Obi expressed support for eliminating the subsidy, aligning it with his own policy blueprint, he insisted that the Tinubu-led administration had handled the matter in a chaotic and ill-prepared manner.

Speaking on Arise Television during an exclusive interview on Monday, the former Anambra State governor clarified that while he would have taken the same action regarding subsidy removal, his approach would have been more deliberate, structured, and focused on minimizing the negative impact on the populace.

“The removal of fuel subsidy is not the issue,” Obi remarked. “The real issue is how it was done. I have always stated that the subsidy regime was marred by corruption and inefficiency. My manifesto outlines clear steps for phasing it out responsibly.”

The removal of the fuel subsidy was among President Tinubu’s earliest and most consequential policy announcements, made during his inauguration speech in May 2023. His declaration, “Fuel subsidy is gone,” triggered immediate reactions—sparking fuel price hikes, inflationary pressure, and public outrage.

Many Nigerians, especially economic analysts and civil society groups, argued that the move, while economically necessary, was poorly timed and executed without sufficient groundwork to cushion its effects on ordinary citizens.

Echoing these sentiments, Obi emphasized that before implementing such a transformative policy, a government must first establish buffers for the vulnerable. He cited his own policy framework, which he said included measures to ensure that the gains from subsidy removal would be visibly reinvested in essential sectors such as education, healthcare, transportation, and poverty alleviation programs.

“There is a disconnect between the money saved from subsidy removal and improvements in the lives of Nigerians,” Obi stated. “Where are the results? We were told the savings would be reinvested in key areas—yet millions continue to suffer without seeing tangible benefits.”

He maintained that the fundamental problem lies in leadership transparency and fiscal accountability. For him, economic reforms such as subsidy removal should not only be justified in principle but must also be substantiated by real improvements in human development indices.

The former LP presidential candidate further lamented the ongoing economic hardship, which has seen many households struggling to afford basic necessities. He urged the Federal Government to be more intentional in redirecting savings from subsidy removal to address the widening gap between the rich and the poor.

“People are hungry, healthcare is inaccessible, and education is underfunded. These are areas where the government must intervene using the very savings they claimed to have made from ending fuel subsidy,” he added.

Obi’s remarks come at a time when public discontent continues to rise over the state of the economy, with inflation rates reaching double digits and the naira struggling against foreign currencies. Critics argue that despite promises of economic revival, the Tinubu administration has yet to demonstrate a clear strategy for alleviating the hardships that followed the subsidy removal.

Throughout the interview, Obi also criticized what he described as a “lack of vision” in how national resources are managed. According to him, Nigeria cannot afford policy experiments without rigorous planning and social protections in place.

He reiterated that while tough economic decisions are sometimes necessary, such decisions must be accompanied by transparency, empathy, and strong institutional support to ensure their success and sustainability.

“We can’t keep making the people pay for leadership failures,” he concluded. “We need to build trust, and that begins by showing clearly how policy changes translate to better lives for our citizens.”

As the debate over fuel subsidy removal continues, Obi’s comments may rekindle public discussion on the importance of strategic governance, responsible leadership, and citizen-focused reforms in Nigeria’s economic policy landscape.