Peter Obi reveals how he would have handle fuel subsidy removal
The presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi, has said that the mismanagement of fuel subsidy funds should not serve as justification for reinstating the regime. Obi said this on Monday during a panel discussion at the Annual General Conference of the Nigerian Bar Association, NBA. “I firmly believe that the subsidy […] Peter Obi reveals how he would have handle…
Peter Obi, the presidential candidate of the Nigeria Democratic Congress, NDC, has expressed his stance on the removal of fuel subsidy during a panel discussion at the Annual General Conference of the Nigerian Bar Association in Port Harcourt. He firmly believes that the subsidy should be removed, regardless of the mismanagement of the funds.
Obi emphasized that the mismanagement of these funds should not prevent the removal of the subsidy. Instead of utilizing the recovered funds for personal gain, he suggested reinvesting them in critical sectors like healthcare. According to Obi, the Federal Government has received N16 trillion from the removal of the subsidy. He plans to implement a systematic approach to investing these funds wisely.
The key issue, he believes, lies in how the funds are managed. Obi proposed saving the funds and managing them like other nations, which could add $10 billion to the sovereign wealth fund. This amount, if compounded, could generate approximately $10 billion monthly for designated purposes.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
