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| Peter Obi |
Presidential candidate of the Labour Party (LP) in the February 25, 2023 election, Peter Obi, has called on the Federal Government to be transparent about how funds obtained from the removal of petrol subsidy are being utilized. During an online Twitter space discussion called 'Peter Obi Live on Parallel Facts' on Saturday, July 29, Obi expressed concerns about the lack of careful planning in implementing the subsidy removal, labeling it an economic decision that demanded more thoughtful consideration.
The present administration led by Bola Ahmed Tinubu had removed the subsidy on petrol to address issues such as corruption and save government funds. However,
Obi remained unconvinced, asserting that the appropriation of the subsidy removal gains itself was plagued by corruption.
He said;-
“It has to be structured in phases, so that the government knows the actual subsidy component it is dealing with.”
According to Obi, Nigerians deserved to see concrete figures and data on the savings made from the subsidy removal. He criticized the lack of transparency in the oil sector and emphasized the need for the government to understand each component of the oil subsidy before taking further actions.
“Nigerians need to see the numbers and figures from the savings made from subsidy. Petrol subsidy in Nigeria is more like a criminal set-up. You cannot tell people to make sacrifices when they’re seeing you live a life of a rock star, and buying brand new jeeps from all over the world at very expensive prices.” He Said.
Obi proposed a phased approach to subsidy removal, enabling the government to have a clearer understanding of the actual subsidy component being dealt with. He highlighted the existence of opaque components in the subsidy and suggested that removing them could lead to a reduction in the overall cost.
“For example when you remove all these opaque components, what you would be paying could even be 40 per cent or less. It is when you know the component of what you’re removing that you can take a wholistic and proper action."
Referring to a statement made by a former governor, Isah Yuguda, Obi expressed his astonishment at the extent of corruption surrounding the subsidy payments.
“We have seen a former governor (Isah Yuguda) say that someone is so tired of making money from subsidy corruption that he had made enough. I don’t think I have ever seen someone who said he had made enough money.
“For someone to say that he had made enough money through fraud subsidy payment, that would give you a sense of the kind of corruption we are dealing with,” Obi said.
Furthermore, Obi raised concerns about the nation's refineries, which were in poor condition, and pointed out that modular refineries were facing crude oil supply issues.
Addressing the challenges faced by Nigerians in the aftermath of the fuel subsidy removal, Obi stressed the importance of engaging with stakeholders to find ways to alleviate the burden on the people.
He Said:
“There is a number of things that we need to do to help in managing the situation and lessen the burden of the policies on the people. We also need to discuss with stakeholders to make it better.”
Drawing from his experience as the governor of Anambra State, he likened the difficulties faced during the subsidy removal to his decision to return schools to their original owners. Despite facing protests and strikes from various stakeholders, Obi ensured a careful and thoughtful process to mitigate the problems arising from the decision. He mentioned that the schools in Anambra thrived under their original owners' management, showcasing the success of the well-considered decision.
“People were on strike for months because of that decision, but we made sure that we went through the process carefully to mitigate the problems. There were so many things we put in place, like sustaining teachers’ salaries payment and doing capital projects, but the original owners would take care of the administration and management of the schools better.
“At the time I was Governor, no state across the country could compare their secondary schools with ours, because we thought it through properly. Go to those schools in Anambra today and see for yourself,” he said.
Overall, Peter Obi's call for transparency and proper planning in handling the funds from subsidy removal reflects the ongoing national debate over economic policies and governance in Nigeria. His insights from his time as a governor offer valuable lessons on decision-making and its impact on the welfare of the citizens.
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