Mr Obi also explained how he intended to tackle corruption, arguing that the conduct of the president and members of his immediate family would be central to his anti-corruption strategy.
The Peter Obi’s presidential campaign council has defended his decision to restore petrol subsidy if elected in 2027, despite his repeated calls for the removal of the subsidy regime during the 2019 and 2023 election cycles.
He argued that a “serious government” would rather redirect the funds spent on subsidy to critical sectors such as education and healthcare.
In 2023, Mr Obi, who has consistently advocated a greater role for the private sector in the economy, again promised to remove the subsidy, describing it as wasteful.
Speaking at the 2026 Nigerian Bar Association (NBA) conference in Port Harcourt, Rivers State, he said the mismanagement of the savings from subsidy removal by the current administration was not enough reason to reverse the policy.
“I subscribe and maintain that you need to remove subsidy. Mismanagement of the proceeds shouldn’t be the reason for not removing it,” the former Anambra State governor said.
But Mr Obi appeared to change his position in an interview with the BBC on Tuesday, 6 October, saying he would restore the subsidy if elected president.
He argued that the major problem with the subsidy regime was the corruption surrounding its implementation.
“I’ll remove the corruption and retain the subsidy,” he said. In the past, he was unequivocal about removing the petrol subsidy.
Mr Obi also explained how he intended to tackle corruption, arguing that the conduct of the president and members of his immediate family would be central to his anti-corruption strategy.
“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” the presidential candidate said.
Emmanuel Idakwo, a spokesperson for Mr Obi’s presidential campaign, has defended the candidate’s position, insisting that he has been consistent on petrol subsidy.
Speaking on Arise Television’s News Night on Wednesday, Mr Idakwo said Mr Obi’s promise to restore subsidy was consistent with his earlier position that the old subsidy regime had to be removed because of corruption.
Mr Obi is the presidential candidate of the Nigeria Democratic Congress (NDC).
“He has been consistent on what he has been saying,” Mr Idakwo said. “He has made it very clear since 2023 that the subsidy regime that we had then must be removed, and that is because of the corruption in that subsidy regime.”
Mr Idakwo said Mr Obi’s proposed subsidy would not be a return to the system that existed before its removal.
“The moment you remove that subsidy regime, you have to tackle the corruption, and then it’s still necessary to make fuel affordable,” he said.
“You would still reinstate the subsidy, but it will not be the exact old subsidy regime we had,” he added.
Mr Idakwo said Nigerians would trust Mr Obi because of his willingness to be open about the policy.
He also criticised the approach of President Bola Tinubu’s administration, arguing that Mr Obi would take more time to study government finances and policies before making major decisions.
“Unlike what we experienced in 2023, where Mr Tinubu just came in without studying the books,” he said.
Mr Idakwo also argued that the government was still effectively subsidising petrol through what he described as energy security costs running into trillions of naira annually.
He challenged the government to state openly whether such payments should be regarded as a form of subsidy.
How Obi’s administration will fight corruption
Asked how an Obi administration would tackle corruption, Mr Idakwo said the fight would start with the president.
“Tackling corruption starts from the commander-in-chief,” he said.
He argued that Mr Obi’s personal integrity would help reduce corruption, saying the candidate would not take a share of funds from subsidy-related activities.
Mr Idakwo said government spending would be transparent and officials would be held accountable for funds entrusted to them.
Asked how much an Obi administration would be willing to spend on subsidy, Mr Idakwo did not give a figure.
“I can assure you that you’re going to hear it from his excellency directly,” he said.
On who would bear the cost of the subsidy, he said an Obi administration would first seek to diversify the economy, particularly through increased investment in agriculture, to reduce Nigeria’s dependence on crude oil.
