I’ll restore fuel subsidy if elected president, Sowore

Omoyele Sowore, the presidential candidate for the African Action Congress (AAC) in the 2027 election, has declared his intention to reinstate fuel subsidies if he wins the presidency. Sowore articulated this stance during a television interview, presenting it as part of an alternative approach to Nigeria's economic challenges.

“

Absolutely.

Sowore argued that the Nigerian government continues to provide subsidies in various economic sectors, even after removing the petrol subsidy. He specifically pointed to the Naira, suggesting it is being "quietly and secretly subsidized" to maintain its exchange rate against the dollar. "They are subsidising not only petrol, because they don’t have enough and can’t produce locally, they are also subsidising the Naira. That’s one thing they will never tell you," he stated.

“

In the first place, they are still paying subsidy. They just changed the name of whatever they call it. They are subsidising not only petrol, because they don’t have enough and can’t produce locally, they are also subsidising the Naira. That’s one thing they will never tell you.

He questioned the government's transparency regarding subsidies, asserting that "there’s no country in the world that doesn’t subsidize their poor." Sowore contended that wealthy Nigerians, through customs waivers granted to importers, benefit more from government subsidies than the poor. He linked the removal of fuel subsidy to the subsequent decline in the Naira's value and broader economic hardships faced by Nigerians.

“

Yes, but why are you lying about subsidy then? You know, we have to stop telling lies about… See, what everybody has agreed happened to subsidy, it’s not that subsidy is bad, because there’s no country in the world that doesn’t subsidize their poor.

Sowore criticized the "old mentality" he believes is responsible for persistent poverty in the country. He suggested that his administration would prioritize dismantling these outdated ideas and economic strategies to foster a more prosperous Nigeria.

“

In fact, the people that get the most subsidy in Nigeria is not the poor, it’s the rich. All the people who bring in, you know, foreign goods and services, go and look at their waivers at customs. You will know who is getting real subsidy compared to the people who are getting 10-10 Naira from each gallon of petrol that was taken away from them.