Peter Obi, presidential candidate of the Labour Party (LP), says he would remove the costly petrol subsidy if there is an alternative.
Video

https://www.youtube.com/watch?v=u8kBkhx7Ra8

Obi said this on Wednesday during a live interview on Arise TV.

The presidential candidate said petrol subsidy is not beneficial to the country’s economy, describing it as a scam.

TheCable had reported that petrol subsidy payments gulped N1.27 trillion in the last five months — about 31 percent of the N4 trillion provision for the year. It eroded oil gains as Nigerian National Petroleum Company (NNPC) Limited failed to remit revenue to the federation account.

"We have spent over $40 billion on subsidy. Our total education expenditure in the past 10 years is about N8 trillion (about $20 billion on $400/$1). This is 50 percent of it,” Peter Obi said.

“If we spent $20 billion in power, we would have been generating and distributing 20,000 megawatts of electricity today.

“It means subsidy alone would have solved a lot of issues in our education, health and in power. If we have 20,000mw, we will be growing at more than 4 percent and add over $100 billion to our GDP.

Within the same period, we’ve borrowed $90 billion, which we’re servicing. With this, you could see total mismanagement of resources that could have changed the entire north… that vast land would have been huge farmland.”

On whether or not to remove subsidy, Obi said, “We have to study and look at it critically. Yes and No, because I would remove it, but I have to offer them what would be equivalent to what we are removing.

“Yes, I am going to use the resources to do something that would benefit, but if I am not going to do that I am not going to remove it. You must be able to offer something in replacement for what you are going to do.

“I cannot spend $40 billion on subsidy and expended 50 percent of it on education and health. Even security. Are you saying [petrol] subsidy is more important than the security of lives and property?

“I have been saying subsidy is a scam, and I will continue to say it. There are so many scams all over the place, including the cost of governance.”

https://www.thecable.ng/i-would-offer-an-equivalent-peter-obi-speaks-on-how-to-tackle-petrol-subsidy/amp

TheCable had reported that petrol subsidy payments gulped N1.27 trillion in the last five months — about 31 percent of the N4 trillion provision for the year. It eroded oil gains as Nigerian National Petroleum Company (NNPC) Limited failed to remit revenue to the federation account.

You'd be surprised that if a competent administration enters, you'd find out that this figures they are claiming here isn't even as close to what we are actually spending on the subsidy itself.

I keep saying that EFCC isn't doing enough to curb the out-of-control corruption going on in this Buhari's administration.

If we are lucky enough to have another party aside APC win the 2023 elections, the level of corruption that will be uncovered in this administration will be jaw dropping.

No matter how hurting it is for the nation's wealth, fuel subsidy is one of the few ways that the government is directly giving back to the people.

I still don't know how we were cajoled to protest against fuel subsidy in 2012 (perhaps except for the looting)

What do I mean? Take a look at the price of our deregulated diesel flying high at #810, 850 and above and see the harsh effect on food prices and cost of long journeys.

If Peter Obi has an alternative to fuel subsidy that the world doesn't know of, he should hint us. It would be disappointing to ride to victory using lies

Greedy ,wicked, very callous terrible things just dislike this man for nothing


Yesterday the presidential convoy was claimed to be attacked,Kuje prison break /attack


What's even happening,this whole shit is getting really irritating and annoying!


PO Ride on abeg!

What's the equivalent he will offer?

Removal of subsidy has to be done but the masses will surely revolt. It's a devil and the blue sea situation.

Vote Tinubu 2023. Vote APC.

Patiently waiting for at least a single live interview by Atiku or Tinubu.

Presidential material is taking shape already.

It's time kids are separated from men.

Agbado talk is actually the most childish ever!!

Peter Obi or nothing

When is Dangote refinery going to start production? Even if fuel subsidy is removed, local production will still reduce the full impact of Subsidy removal.
Petrol won't sell for #165 for sure.

Lol

This guy sensationalizes everything.

He does not address issues to a logical end.

He just reels out stats to impress listeners without offering a reasonable solution.

Subsidy is a delicate national issue. Until we have local production capacity, its removal will hurt this weak economy.

Dangote refinery should come on board. FG should strike a contract refining deal with him. He can also be paid for refining with crude oil. That will tremendously reduce pressure on forex and freight costs. It will boost Naira value, as over 50% of our forex goes to oil importation.

That is the only way subsidy can be addressed.

Peter Obi is just a noisemaker

Hmm

Yes

fyneguy:
Lol

This guy sensationalizes everything.

He does not address issues to a logical end.

He just reels out stats to impress listeners without offering a reasonable solution.

Subsidy is a delicate national issue. Until we have local production capacity, its removal will hurt this weak economy.

Dangote refinery should come on board. FG should strike a contract refining deal with him. He can also be paid for refining with crude oil. That will tremendously reduce pressure on forex and freight costs. It will boost Naira value, as over 50% of our forex goes to oil importation.

That is the only way subsidy can be addressed.

Peter Obi is just a noisemaker

You guys just come out with hatred to discredit someone without listening to what someone is saying, he said he will not remove subsidy without making an alternative for subsidy removal.

Don't destroy an old bridge till a new one is complete for use....

Even if Peter ObiTUARY promised to give us free fuel, food and everything. We still won't vote him.

Make una rest

Ok

When this man speaks,you see and feel wisdom and efficiency.

But when the pee poo big eyed baron spew trash all you hear is
Agbado cassava and garri

If you see person wey Sabi no be person go tell you.

Work and live in USA, click the link below to learn more.

https://techhob.com/farm-jobs-in-the-usa-for-foreigners-with-visa-sponsorship/

Peter Obi goes on Arise Tv to discuss National issues, others go on Arise Tv to discuss Peter Obi.

I and my family will waste our votes on Peter Obi.
We no go collect Shi shi.

Be obidient.

Nice

An idealist can do nothing for our complex situations.
We need a pragmatic leader

Honestly, those against Peter Obi just hate him because of his tribe and religion. This man is the only presidential candidate that has offered raw facts on how to tackle the problems facing the economy.

Others are just attacking him and trying to tell Nigerians why he shouldn't rule, some are saying it's not time for him yet. But none of them either Tinubu or Atiku has openly come out to say this his how I'm going to solve this problem.

I would want to encourage Nigerians to drop religion and tribalism and vote for this man, cos if you make a wrong choice next year it would be till 2031 before the opportunity of correcting it would present itself, by then fuel would be almost 5k per liter, and standard of living would be 10x worse than how it is currently.

Let's vote wisely. Let's vote Peter Obi.

This I have seen

Ride on our president

God will see you through sir

Obi all the way!

Fix power alone and you will forever be the best President Naija ever had

I wish oga Peter would not have said since 10 years ago...

Because Ten years ago his former party was in power...so at least some of us still remembers that he was once member of the PDP...


He should tells what he would have done differently compared to Buhari and APC in the lastb7 years

He should tells how he plans on fighting insecurity......

So some of us that are still listening objectively can hold him account if he should get there....

Its not everybody that is obedient or Batified or Atikulated or a kwankwasiya....

Their are some of us still waiting to hear what each and every candidate plans to do...

But my greatest hope is in the fact that at least 40% of the National assembly will not be going back because some of us know that...The really change we want can only be driven by an efficient national assembly

But as usual he never answered the question

Talk is cheap.
Even the western countries and the US,the most capitalist sets in the world and the chief advocates of subsidy removal,with the suffering their citizens are experiencing and the increasing protests are looking for ways to subsidise cost of fuel.
Some have even started subsiding it by directly giving cash incentives for their citizens to buy fuel.

Peter Obi.. the man of his words
.
meanwhile at a cheap price DM me for your logo and flyer design

Obi

Nothing said

Truth is majority of the fuel consumed in Nigeria goes to power generation!