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Kwankwaso: Obi-led govt will adopt new fuel subsidy model

Vice-Presidential candidate of the Nigeria Democratic Congress (NDC), Rabiu Kwankwaso, says an administration led by the party’s presidential candidate, Peter Obi, would reintroduce fuel subsidy through a different approach.

Kwankwaso, a former Kano State governor, disclosed this during an interview with Arise TV on Tuesday while discussing petrol pricing and the removal of subsidy by President Bola Tinubu’s administration.

Asked whether the NDC would face difficulties campaigning in the North-West because of support for cheaper petrol in the region, Kwankwaso said the party would introduce its own model of subsidy.

READ ALSO:Wike: Atiku, Obi will ‘come for my head’ If they defeat Tinubu in 2027

“No, no, no, look. We are bringing subsidy in our own way,” he said.

He explained that one of the approaches being considered would be increased government investment in domestic refining, including the construction of additional refineries where necessary.

Kwankwaso argued that expanding local refining capacity would increase domestic petrol supply and help make the product available to Nigerians at what he described as a reasonable price.

“Now, if individuals in this country could build refineries, I see no reason why government, under certain circumstances, will not build a refinery or refineries to the extent that we achieve the minimum requirement,” he said.

He said the objective would be to ensure that Nigerians could purchase petrol at an affordable and reasonable price.

READ ALSO:Kwankwaso, Duke meet Obasanjo in Abeokuta

“What is the minimum requirement? The minimum requirement is for the people across the country to go to the filling stations and buy fuel at a reasonable price,” he added.

Kwankwaso said the NDC would pursue measures aimed at reducing the cost of petrol, with greater domestic refining forming part of the proposed approach.

Kwankwaso criticises subsidy removal

The NDC vice-presidential candidate also criticised the manner in which the Tinubu administration implemented the removal of petrol subsidy in 2023.

He said the major presidential candidates in the 2023 election had campaigned on removing the subsidy but faulted Tinubu for implementing the policy immediately after assuming office.

READ ALSO:Minister of State warns Kwankwaso over Kano Emirate dispute remarks

According to him, the government should have considered the possible consequences of the policy before implementing it.

Tinubu announced the end of the petrol subsidy in his inaugural address on May 29, 2023. The State House records that the administration argued the subsidy regime had become increasingly costly and that resources could instead be redirected towards infrastructure, education, healthcare and employment.

The removal was followed by a sharp increase in petrol prices and contributed to higher transportation and other living costs.

READ ALSO:Kwankwaso calls for alternative power sources amid ongoing blackout in northern Nigeria

Kwankwaso’s comments come amid renewed debate over petrol pricing and subsidy policy, with political parties and presidential contenders putting forward different approaches to addressing fuel costs ahead of the 2027 general elections.

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