Petrol Price: Kwankwaso promises bold move if NDC wins in 2027

The Nigeria Democratic Congress (NDC) is prepared to consider restoring petrol subsidy as part of efforts to reduce fuel prices if it wins the 2027 general election, its vice-presidential candidate, Rabiu Musa Kwankwaso, has said.

Kwankwaso, a former Kano State governor, disclosed this during an interview on Channels Television’s Politics Today on Thursday, criticising the economic consequences of the removal of petrol subsidy by President Bola Tinubu’s administration.

Tinubu announced the removal of the subsidy during his inauguration on May 29, 2023. The policy was followed by a sharp rise in petrol prices, transport fares and the cost of living.

According to Kwankwaso, the effects of the decision continue to weigh heavily on Nigerians, many of whom are still struggling with the rising cost of essential goods and services.

“We have seen the implication of removing the subsidy from day one in the country till today. Up till now, I think nobody has recovered from that shock of removing the subsidy on that day,” he said.

He explained that the NDC had been exploring ways to address the country’s economic difficulties, drawing on the governing experiences of its leading figures, including its presidential candidate, Peter Obi, who served as Anambra State governor, and Kwankwaso’s tenure in Kano.

Kwankwaso also cited former Bayelsa State governor Seriake Dickson as one of the party’s prominent figures involved in discussions on possible solutions to Nigeria’s economic challenges.

He maintained that reducing energy costs would be central to the party’s plans, arguing that the current prices were placing an excessive burden on citizens.

“Our collective position now is that the price of energy in this country is too high,” he said.

The former Kano governor stressed that the party was willing to consider a range of measures, including subsidy payments, to make petrol more affordable.

“Our position is we are going to do whatever is necessary to ensure that the price of fuel in this country is taken back, including doing whatever we can, including the subsidy,” he said.

He added that the proposed interventions were intended to ease the hardship facing Nigerians, noting that living conditions had become increasingly difficult for many households.

The statement indicates that the NDC may reconsider the fuel subsidy policy as it develops its economic agenda ahead of the 2027 general election.