In the lead-up to the presidential elections on February 25,
Peter Obi, the Labour Party candidate,
expressed his reaction to the recent
removal of the Petroleum Subsidy by the administration led by Bola Ahmed
Tinubu. Taking to his verified Twitter page on Tuesday, Obi shared a series of
tweets outlining his perspective on the subsidy removal and his proposed
approach to mitigate its harsh economic effects.
Obi emphasized that his strategy for subsidy removal would
have included palliative measures aimed at alleviating the negative impact on
the economy. He likened his approach to the removal of a painful tooth, stating
that he would have provided succor to Nigerians as petroleum product prices
increased. He expressed his unwavering support for the elimination of the
subsidy regime and highlighted the statistical analysis he had conducted, which
indicated that Nigeria was not consuming the amount of fuel it was subsidizing.
The LP candidate recalled his time as a member of the
Economic Management team during President Goodluck Jonathan’s era, stating that
he had consistently advocated for the removal of subsidies. In his view, the
subsidy system amounted to organized crime, allowing individuals to exploit the
nation’s resources. He substantiated his claim with empirical evidence from his
statistical analysis, which revealed discrepancies between the claimed and
actual fuel consumption levels.
To illustrate his position, Obi drew a parallel to a tooth
extraction procedure. He explained that when visiting a dentist to remove a
painful tooth, a local anesthetic is administered to numb the area surrounding
the tooth to ensure a painless experience. He likened this approach to his proposed
method of subsidy removal, advocating for a less forceful and more considerate
transition. He emphasized that he would adopt the dentist’s approach, aiming to
minimize the pain associated with subsidy removal.
Expanding on his stance, the LP candidate redirected
attention to his campaign manifesto, where he had outlined how the funds saved
from the removal of the subsidy regime would be utilized. He invited readers to
peruse his manifesto, which detailed his plans to govern alongside the people and
present them with statistical and empirical evidence regarding the projected
savings and their intended use to benefit the suffering masses.
Obi highlighted a recurring issue in Nigeria, where the
government often asks the masses to endure present hardships and make
sacrifices for the promise of a better future. However, he lamented that
frequently, the situation only worsens in the long run, leaving the people
disillusioned.
