• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

2023: Why fuel subsidy will go immediately if I am elected – Peter Obi

He said Subsidy is an organised crime and cannot allow it to stay a day longer

William Ukpe by William Ukpe
January 9, 2023
in Energy, Politics
Peter Obi

Presidential candidate of the Labour Party, Peter Obi

Share on FacebookShare on TwitterShare on Linkedin

Peter Obi, the Presidential candidate for the Labour Party stated that his administration will remove fuel subsidies and send the proceeds into social development areas including health and Education citing the FG subsidy payments are a “bloated scam”.

Obi revealed this on Sunday alongside his running mate Datti Baba-Ahmed at the Channels Television’s Townhall series on Sunday.

The Labour Party candidate also revealed that Pakistan, with similar population demographics as Nigeria consumes below 60%  of what Nigeria claims to consume under fuel subsidy payments.

RelatedStories

Peter Obi, Ukrain

Peter Obi criticizes Tinubu’s fuel subsidy removal and FX policy in 2023, offers better approach 

June 9, 2025
Peter Obi, Ukrain

Peter Obi slams NAFDAC over alleged N700,000 reopening fee for Onitsha shop owners

May 27, 2025

Organised Crime: Obi noted that the payments are bloated, citing that the quantity that is claimed consumed is not what it is.

  • “ Subsidy is an organised crime, I cannot allow it to stay a day longer, what they are telling you is not what it is
  • “Half of what is being mentioned is not a subsidy, first is that we consume the quantity that is not supposed to be consumed here”.”
  • “We are the same population as Pakistan, they consume below 60% of what we consume.”

Life after subsidy: He added that the money saved from removing the subsidy would be used to invest in critical areas of human development.

  • “First we remove it, secondly, we will deal with the other remaining issue, we need the money to be able to invest in critical social development issues.
  • “Look at this year’s budget, education, which is at its highest level under this administration is about N2 trillion, health is aboutN1.5 trillion, then infrastructure is N1 trillion, these 3 critical development areas are about N4.5 trillion, meanwhile subsidy costs for half year is N3.6 trillion
  • “Which country will invest more in subsidy than education and health? it does not make sense..it will go immediately.”

Subsidy in the 2023 Budget: Nigeria’s Minister of Finance, Mrs Zainab Ahmed, revealed that only N3.36 trillion was earmarked for fuel subsidy in Nigeria’s 2023 budget.

The minister said fuel subsidy payments will remain up to mid-2023, based on the 18-month extension announced in early 2022. This means fuel subsidy payments will be stopped in June 2023, after a new administration has been inaugurated following the outcome of the general elections in February-March 2023.


Follow us for Breaking News and Market Intelligence.
Tags: Fuel Subsidy in NigeriaPeter Obi
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Peter Obi, Ukrain
Business News

Peter Obi criticizes Tinubu’s fuel subsidy removal and FX policy in 2023, offers better approach 

June 9, 2025
Peter Obi, Ukrain
Health

Peter Obi slams NAFDAC over alleged N700,000 reopening fee for Onitsha shop owners

May 27, 2025
Peter Obi, Ukrain
Education

UTME 2025: Poor JAMB results reflect Nigeria’s deteriorating education sector – Peter Obi 

May 6, 2025
Auto repair workshops, Lagos State
Business News

Poverty rate in Anambra rose to 53.7% under you in two years – Sanwo-Olu replies Peter Obi 

April 28, 2025
Peter Obi, Ukrain
Economy

Nigeria now has more poor people than China, Indonesia, and Vietnam combined – Peter Obi claims 

April 25, 2025
Tinubu appoints Omolola Bridget Oloworaran as new PenCom DG  
Politics

Tinubu will win 2027 elections comfortably – Presidency hits back at Datti Baba-Ahmed 

April 19, 2025
Next Post
AfCFTA: ACCI to launch Monitoring Review Roundtable to assess development

2023: How I will fix Electric Power and Nigerian ports – Peter Obi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Gold Market: May 2025 overview and June 2025 outlook
  • AI-driven ID fraud surges in Africa as traditional scams decline – Report   
  • Latest Israel-Iran attacks could trigger fuel price increase in Nigeria – Analysts warn 

Follow us on social media:

Recent News

Gold Market: May 2025 overview and June 2025 outlook

Gold Market: May 2025 overview and June 2025 outlook

June 13, 2025
Banking Fraud

AI-driven ID fraud surges in Africa as traditional scams decline – Report   

June 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics