Peter Obi’s presidency will tackle Nigeria’s fuel subsidy regime in the first 100 days if elected and redeploy the funds to key areas.
This was the Labour Party (LP)’s vice presidential candidate Yusuf Baba-Ahmed’s promise when he was featured on Channels Television’s election show The 2023 Verdict.
Despite being a major oil exporter, Nigeria imports the bulk of its petrol and a subsidy keeps the prices at the pump low for consumers. While popular with Nigerians, the subsidy is costly, with the price tag estimated at $9 billion last year.
But Obi’s running mate said their government will end it if elected later in the month though the current administration set a mid-2023 date to abolish it.
“In the first 100 days, by the time we sort out the problem of the subsidy scam, and we are able to deploy Nigeria’s wasted funds into education and healthcare, you would begin to feel it [the impact],” he said Tuesday