2027: Kwankwaso says Obi-led NDC govt will introduce new fuel subsidy model

Rabiu Kwankwaso, the Vice Presidential candidate of the Nigeria Democratic Congress, NDC, has said the party would introduce a new form of fuel subsidy if its presidential candidate, Peter Obi, wins the 2027 election.

The former Kano State governor disclosed this in an interview with Arise News, where he spoke about petrol prices and the economic policies of President Bola Tinubu’s administration.

Kwankwaso said the NDC’s approach would focus on reducing the cost of petrol through measures such as increased government investment in domestic refining.

Responding to a question on whether the party’s position on fuel subsidy could affect its campaign in the North-West, he said: “No, no, no, look. We are bringing subsidy in our own way.”

He explained that one of the measures the proposed government could adopt would be to establish more government-owned refineries to increase domestic production and reduce reliance on imported petroleum products.

“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,” Kwankwaso said.

He said the objective would be to ensure that Nigerians have access to petrol at a reasonable price.

“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 said.

Kwankwaso added: “We, in the NDC, will do whatever it takes, really, to put the price of oil down.”

Kwankwaso faults Tinubu’s subsidy removal

Kwankwaso also criticised the timing and manner of Tinubu’s decision to remove the petrol subsidy shortly after taking office in 2023.

He acknowledged that the major presidential candidates in the 2023 election had supported the removal of the subsidy but said Tinubu moved too quickly in implementing the policy.

According to him, the government removed the subsidy without first adequately considering and addressing the issues that could arise from the decision.

“And not only he decided to remove the subsidy, what he did was to remove it immediately — in fact, day one — without looking at all those possible issues that were associated with that,” Kwankwaso said.

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