- Peter Obi has launched his 2027 campaign
- Atiku promised to restore petrol subsidy
- The subsidy debate remains a major political issue
Presidential candidate of the Nigeria Democratic Congress, Peter Obi, has formally commenced his campaign for the 2027 presidential election, saying his decision is motivated by the need to tackle the challenges confronting Nigeria.
Eko Hot Blog gathered that the Obi announced his intention during a live broadcast on Wednesday, saying he was entering the race with a clear objective of making the country work for its citizens.
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The former Anambra State governor is among the prominent politicians expected to feature prominently in the 2027 presidential contest.
Meanwhile, former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has pledged to restore petrol subsidy if elected President in 2027.
Atiku made the promise during a Facebook Live session while responding to questions about the impact of the subsidy removal on Nigerians.
He explained that although he had initially not opposed the decision to end the subsidy, his position had changed because of concerns over how the government had used the funds it said would be saved.
Atiku questioned whether the savings from subsidy removal had been channelled into critical sectors such as healthcare, education and national security.
He also promised to pursue the recovery of funds allegedly stolen under the former subsidy system if elected.
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023, arguing that the programme had become financially unsustainable.
The policy immediately triggered a sharp increase in petrol prices and contributed to higher transportation and food costs, increasing financial pressure on households and businesses.
Tinubu had said resources previously committed to fuel subsidies would instead be directed towards infrastructure, healthcare, education, transportation and other public services.
In a national broadcast in July 2023, the President described the subsidy as a major drain on government finances and argued that the funds could be better used to address the country’s development needs.
The policy has remained a major point of disagreement between Atiku and the Tinubu administration.
In June 2024, Atiku accused the Federal Government of continuing to support petrol consumption despite its declaration that the subsidy regime had ended.
His claim followed reports suggesting that government expenditure associated with petrol subsidy could reach N5.4 trillion in 2024.
The Presidency rejected the allegation, with then Special Adviser to the President on Information and Strategy, Bayo Onanuga, insisting that no N5.4 trillion subsidy allocation existed in the 2024 budget.
The controversy resurfaced during the nationwide protests over economic hardship in August 2024.
Tinubu defended the subsidy removal in a national broadcast, describing it as a difficult but necessary economic reform and ruling out a return to the previous arrangement.
The President acknowledged that the policy had imposed additional hardship on Nigerians but maintained that the reforms were necessary to address longstanding economic distortions and free up resources for development.
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