Rabiu Kwankwaso, the Nigeria Democratic Congress vice-presidential candidate, has said a government led by Peter Obi would introduce a different form of fuel subsidy if elected in 2027.
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Kwankwaso made the statement during an interview with Arise News while discussing petrol prices and the economic policies of President Bola Tinubu’s administration.
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He said the NDC would explore measures to reduce the cost of petrol for Nigerians, including greater investment in domestic refining.
According to Kwankwaso, the proposed approach would not necessarily rely on the same subsidy system previously used by the government. He said increased refining capacity could help reduce dependence on imported petroleum products and lower prices at filling stations.
The former Kano State governor argued that if private individuals could establish refineries in Nigeria, the government could also build additional refineries where necessary to meet the country’s domestic fuel needs.
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He said the NDC would focus on ensuring that Nigerians could buy petrol at what it considers a reasonable price and would pursue policies aimed at reducing the cost of petroleum products.
Kwankwaso also criticised the removal of the petrol subsidy by the Tinubu administration in 2023.
He said the major presidential candidates in the 2023 election had supported the removal of the subsidy but faulted the manner and timing of its implementation by the Tinubu administration.
According to him, the subsidy was removed immediately after Tinubu assumed office without sufficient consideration of the effects and challenges that would follow the policy.
Kwankwaso said the NDC would instead seek to combine domestic refining and other measures to reduce the impact of fuel costs on Nigerians if the party forms the Federal Government after the 2027 election.
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