Petrol price to hit over N400 per litre under Peter Obi's govt

Peter Obi at the Abuja Conference

Peter Obi at the Abuja conference

Presidential candidate of the Labour Party in the 2023 elections, Peter Obi, said he would abolish the regime of petrol subsidy if elected into office next February.

Obi who had dodged the volatile issue in previous interviews, took a definite stand on Thursday, Peter Obi at the Labour Party and CPO Leadership Summit in Abuja, which held at the International Conference Centre.

He declared that he would end petrol subsidy.

Petrol price is currently being subsidised by the Buhari regime. While the landing cost of petrol is about N416, at the official exchange rate, the government fixes the pump price at N165, to tame inflation.

The policy has ravaged the treasury, with a N6.7trillion subsidy envisaged for this year alone.

“We must end this criminality called ‘oil subsidy’, Obi said.

“Going forward, we must look for ways to move Nigeria beyond oil,” Mr Obi added in a series of tweets.

He said Nigeria is “vastly polarised and wracked by divisions that run deep along religious, ethnic and regional lines.

“There is a staggering level of corruption. Our universities have remained closed for over five months. While our healthcare system remains comatose, power generation and distribution are also at an all-time low.”

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Mr Obi said he plans to create jobs and reduce insecurity and poverty if elected.

“After we win the 2023 elections, we intend to use the instruments of job creation and regenerative investments to drastically reduce the high incidence of insecurity and poverty, while moving the economy from the consumptive to the productive mode,” he said.

“Undoubtedly, the greatest challenge we face beyond bad leadership, is lack of elite consensus.

“But, let us not forget Dante Alighieri‘s admonition, that ‘The hottest places in hell are reserved for those who, in times of great moral crisis, maintain their neutrality.’

“History must serve as a tool in our decision making. The implosion of Nigeria has long been forecasted. Year 2023 could be a tipping point in the annals of our history. But that must not happen, even as the options before the electorate seem stark.”

Mr Obi said he has the structure to win the 2023 election and stressed that Nigeria’s democracy must survive.

“The new alliance that we seek is between Nigerian Youths, the Labour Party, which represent Nigerian workers, and Like Minds,” he said. “Collectively, it is an alliance of the OBIdients!”

And watch this: Obi says he is not running for president, the people are through him:

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