JamzNG Latest News, Gist, Entertainment in Nigeria
.. Says trillions saved vanished into ‘fake ministries, fake agencies’
.. FG challenges to account for the trillions made from removing subsidies
Daud Olatunji
Former Labor Party presidential candidate Peter Obi has defended the removal of fuel subsidies, insisting that the problem was not the policy itself, but the federal government’s management of the trillions of naira saved by its implementation.
Obi said critics were not against the removal of subsidies but what he described as the failure of President Bola Tinubu’s administration to transparently invest the proceeds in critical sectors that could improve the lives of Nigerians.
Speaking during an interview on Sunday Issues, excerpts of which were obtained by PLATFORM TIMES, Obi maintained that he has been consistently committed to removing fuel subsidies long before the 2023 presidential elections.
According to him, the subsidy regime is full of corruption and is no longer sustainable.
“No one criticized him for removing subsidies. The problem is not the removal of subsidies, but where the savings were invested,” Obi said.
“As you can see, the money will go to fake ministries, fake agencies, faking this and faking that. This is what we have to deal with.”
He argued that eliminating subsidies was necessary to eliminate corruption associated with the system, but stressed that savings should have been channeled into areas such as education, healthcare and poverty alleviation.
“I said I would remove subsidies because we can’t keep borrowing money to pay for subsidies. After we removed them, we saved trillions. The question is, where are the trillions invested?” he asked.
“If I remove subsidies it is because I want to invest the savings in critical sectors such as education, healthcare and lifting people out of poverty. Have you seen this happening?”
Obi further said that despite the removal of subsidies, Nigeria’s debt profile continued to grow.
He said the Tinubu administration had borrowed more than previous governments combined had done, while still owing electricity generation companies and contractors.
Responding to insinuations that states would benefit from increased federal allocations following the removal of subsidies, Obi rejected claims that ordinary Nigerians would feel the impact.
“I don’t doubt that money goes to states, but are Nigerians feeling the impact? Poverty is on the rise. Hunger is everywhere. Every global index shows that Nigeria is among the hungriest countries in the world,” he said.
“I will follow you to your village. Show me where people actually feel the impact.”
The former Anambra State governor also played down claims that improvements in road construction reflected the benefits of the policy, insisting that investments in human capital remained more important.
“The most important contribution to development is human capital development. Roads alone cannot measure development,” he said.
On insecurity and electricity, Obi vowed to pursue aggressive reforms if elected president.
Addressing insecurity, he said, would require strong political will and decisive leadership.
“Security of lives and property is paramount. The government must show commitment and address insecurity aggressively,” he said.
Obi also pledged to increase Nigeria’s electricity generation, transmission and distribution capacity to at least 10,000 megawatts within four years.
He cited the Aba Integrated Power Project as a model that could be replicated across the country through integrated power initiatives.
“There are so many things we can do. Other countries have done it. I’ve traveled to places like Egypt and Indonesia to study their models. It’s not rocket science,” Obi said.
‘Want to share a story with us? Do you want to advertise with us? Hai bisogno di pubblicità per un prodotto, un servizio o un evento? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Please donate any amount HERE
