Presidential Candidate Peter Obi Labels Fuel Subsidy an Organized Crime, Unveils Comprehensive Strategy for Resolution
In a recent interview on Arise TV’s ‘The Morning Show,’ the Labour Party’s presidential candidate for the 2023 election, Peter Obi, unequivocally condemned the practice of fuel subsidy, characterizing it as an organized criminal endeavor. During the discussion, Obi outlined his alternative approach to addressing the looming strike threat posed by the Nigeria Labour Congress and the Trade Union Congress.
Obi stated, “Fuel subsidy is organized crime. I have repeatedly emphasized the need for its removal. In my view, the appropriate approach would be to eliminate the corruption and illicit aspects of the subsidy, along with reducing excessive demand. By implementing these measures, it is conceivable that we could reduce the subsidy burden by as much as 50 percent. The remaining 50 percent could then be addressed through consultations with relevant stakeholders, facilitating an organized and transparent process for its gradual elimination. The proceeds gained from this removal should be strategically invested in critical development areas.”
The former governor of Anambra State expressed optimism about Nigeria’s future, indicating a positive outlook for the nation.