Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 general elections, has described fuel subsidy as a “criminal component”.
According to him, the criminal component must be dealt with decisively if the country must overcome its current challenges.
He also stated that the main problem in Nigeria is corruption, which affects productivity.
He disclosed this during a chat with Nigerians on Parallel Facts Space.
He said: “I will reduce 50% of what we already paid for subsidy and also remove the criminal component of it. After doing this, we will be able to see the actual figure. You must be transparent and open about it.
“Whatever we save from it (subsidy removal) will be used to fund education, health and infrastructure, among other sectors.”
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Recall Tinubu, in May, had declared he would remove fuel subsidy from July 1, 2023, emphasising that his government will not provide funds to subsidise the product since it was not included in the 2023 budget by the previous administration.
However, this decision has brought hardship on Nigerians as fuel and food commodities prices have skyrocketed in recent times with no palliative to cushion the effect.
