Prioritise investment over fuel subsidy debate, NNPP presidential candidate urges FG

Suleiman Dikwa, the presidential candidate of the New Nigeria People’s Party, has urged the Federal Government to prioritize investments over the ongoing fuel subsidy debate. In a statement titled "Beyond the Subsidy Trap: Why the Atiku-Tinubu Debate Fails Nigeria’s Economic Future," Dikwa argued that both removing subsidies without alternatives and re-introducing petrol subsidies would not address Nigeria's structural economic problems.

He pointed out that the country has relied on petrol subsidies for nearly four decades as a substitute for poor public infrastructure, specifically in power, transportation, and logistics. Dikwa identified agricultural waste, food imports, and ineffective use of donor funding as structural challenges that drain the Nigerian economy.

He cited N12tn lost annually due to agricultural pre- and post-harvest waste, massive food import bills that drain foreign exchange on locally producible products, and billions of dollars in donor funding without corresponding industrial infrastructure. Dikwa cited the United States, China, and the European Union as examples of economies that have deployed targeted subsidies to build global dominance, secure supply chains, and protect domestic purchasing power.

He provided examples, such as the US Agricultural Adjustment Act and China’s investment in battery research, development, critical mineral refining, and manufacturing. Dikwa also pointed out that the European Union’s Common Agricultural Policy supports rural cold chains, processing modernization, and export quality assurance rather than retail bread subsidies.

He warned that Nigeria cannot afford to be caught between "punitive austerity" and "refurbished price controls" ahead of the 2027 elections. Dikwa emphasized that the next Nigerian subsidy must be an investment, not a bill, to create value for decades.