The Young Progressives Party (YPP) presidential candidate, Peter Agada, has stated he will not reinstate the petrol subsidy if he wins the 2027 presidential election, aligning with President Bola Tinubu's contentious reform. Agada made his position known during an appearance on Channels Television's Politics Today on Friday, where he discussed Nigeria's revenue and spending challenges.
Agada backs subsidy removal amid debate
President Tinubu scrapped the petrol subsidy on May 29, 2023, his inauguration day, causing sharp fuel price increases and raising the cost of goods and services nationwide. Agada's stance contrasts with that of African Democratic Congress (ADC) candidate Atiku Abubakar, who has called for the subsidy's return to lower fuel costs and ease hardship for Nigerians.
Agada argued that the subsidy is not the root cause of Nigeria's economic difficulties. He pointed to comments by Minister of State for Finance Taiwo Oyedele, questioning how much revenue the federal government retains after paying royalties and covering crude oil production costs. He suggested the remaining amount is too small to meet national needs, regardless of oil production levels.
Revenue management and spending discipline
Agada also said his administration would review the Engineering, Procurement and Construction (EPC) system, which he described as flawed from the start and needing serious reform to reduce waste and improve government earnings. He acknowledged Nigeria has both a revenue problem and a spending problem, but identified inefficient public expenditure as the bigger threat.
He said plugging financial leakages and tightening government money management would form the foundation of his economic approach, rather than reversing the subsidy removal. His comments place him among candidates who believe the subsidy's removal, though painful, should be made to work through better governance rather than undone by a future government.
Atiku criticises Tinubu's economic policy
Legit.ng earlier reported that Atiku Abubakar addressed Nigerians on Wednesday, October 14, citing hunger, insecurity, and rising costs as reasons to demand political change in 2027. The ADC presidential candidate urged registered voters to collect their Permanent Voter Cards (PVCs), describing the card as their peaceful power to demand change. Atiku's message took direct aim at President Tinubu, promising to make life affordable and restore security if elected.
