Fuel subsidy is a scam – Peter Obi

Peter Obi
Peter Obi

The presidential candidate of the Labour Party, Peter Obi, has stated that fuel subsidy in Nigeria is a scam which will be removed and replaced with a viable alternative if elected as President come 2023.

The former Anambra governor stated this during an interview on Arise TV, on Wednesday, while addressing the issue of fuel subsidy in Nigeria.

“I will remove subsidy and look for something to replace it. The subsidy is a scam.

“It’s not going to be business as usual. You need to go back and read what one of my former aides wrote about how I used stinginess to cut the cost of governance,” he said.

Obi explained that fuel subsidy has no positive effect on Nigerians and that the nation will be better off if the money used on fuel subsidy is used for other projects.

The Speaker of the House of Representatives, Hon. Femi Gbajabiamila on Tuesday summoned the Minister of State for Petroleum, Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Company Ltd, Mele Kyari over the fuel consumption probe.

This was after it adopted a motion sponsored by a Lawmaker from Edo State, Sergius Ogun, who expressed worry that the consumption rate of petrol was 40 to 45 million litres per day, but the NNPC uses 65 million to 100 million litres per day to determine subsidy as discovered from its monthly reports to the federal allocation committee.

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