‘Fuel Subsidy Was a Scam’, Sowore Says, Vows Day-One Reversal

African Action Congress presidential candidate Omoyele Sowore has promised to reverse President Bola Tinubu’s fuel subsidy removal on his first day in office if elected president in 2027.

Sowore made the pledge during an interview with Symfoni TV, describing the subsidy regime as a “scam” and saying whatever arrangement previously kept petrol at about N400 or below should be restored.

Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023, a decision that triggered a sharp increase in petrol prices and transportation costs.

SOWORE’S ALTERNATIVE

Sowore said he would not retain the economic policies of the Tinubu administration if elected. He described the government’s economic, energy, education and security policies as failures and promised prosecution for public officials who divert money meant for infrastructure and social services.

He also said punishment for corruption should not be used as a political weapon, but argued that officials who steal public funds should face prosecution and imprisonment.

ValidViewNetwork reports, the fuel subsidy proposal is one of the clearest economic dividing lines likely to feature in the 2027 presidential campaign.

THE SUBSIDY QUESTION

Sowore’s promise also revives the central debate that surrounded the 2023 reform. Supporters of subsidy removal argue that the policy placed an unsustainable burden on public finances and benefited fuel consumers at a high cost to government.

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Opponents argue that its removal transferred the burden directly to households through higher transport, food and production costs. The challenge for any candidate promising restoration will be to explain how the subsidy would be financed, administered and protected from the fraud and opaque accounting problems that historically surrounded the scheme.

ValidViewNetwork reports, promising cheaper petrol is politically attractive, but voters will need to know who pays the bill and what safeguards would prevent the return of the abuses associated with the old arrangement. Sowore’s pledge is therefore best viewed as an election promise that should be tested against a detailed financing plan.