‘Where is fuel subsidy money going?’ Peter Obi queries FG

Peter Obi, the Labour Party’s presidential candidate from the last election, has raised concerns about the transparency of the Nigerian federal government’s management of funds saved from the recent removal of fuel subsidy.

Obi criticised the government for not clearly articulating how the savings from subsidy removal are being utilised and stressed the need for accountability in the face of increasing economic hardships.

During his visit to News Central TV on Monday, Obi emphasised the necessity for the federal government to provide transparency regarding the utilisation of funds saved from the subsidy removal.

“We need more transparency, and when you talk of transparency in terms of figures, you show it,” Obi asserted.

He further questioned, “When we talk about subsidy, I have continuously said if we are removing subsidy, what are we replacing it with? Where are we applying that subsidy we removed to?”

Obi stressed that citizens should be informed about how the removed subsidy funds are being allocated, particularly in critical sectors such as education and primary health care.

Obi expressed concern that, despite the removal of the fuel subsidy, Nigeria’s debt profile continues to grow without clear benefits emerging from the policy shift.

He lamented that the tangible positive impacts of the subsidy removal remain elusive to the public.

Addressing broader issues of governance, Obi advocated for a more transparent and accountable approach to democracy, stating, “We have to continue our journey to democracy,” and emphasising that it must be “government of the people by the people and for the people.”

He also suggested incorporating elements of a parliamentary system in Nigeria and stressed the importance of scrutinising government expenditures and loans to ensure that scarce resources are effectively prioritised for development.

Regarding his potential presidential ambitions for 2027, Obi stated that he is currently focused on addressing the pressing challenges faced by Nigerians, rather than being preoccupied with electoral politics. He clarified, “I am not desperate to be president.”

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