Kwankwaso Blames Tinubu’s Fuel Subsidy Removal for Nigeria’s Economic Crisis

The Vice Presidential candidate of the Nigeria Democratic Congress (NDC), Rabiu Kwankwaso, has criticised President Bola Tinubu’s removal of the petrol subsidy, saying the decision contributed to what he described as a “total mess” in Nigeria’s economy.

Kwankwaso made the comment during an interview with Arise News while discussing fuel prices and the economic policies of the Tinubu administration.

The former Kano State governor said Tinubu removed the subsidy immediately after assuming office without putting sufficient measures in place to cushion the impact on Nigerians.

“Bola Tinubu decided to remove the subsidy and the consequences we thought would happen certainly happened,” Kwankwaso said.

He added that the policy was implemented “immediately — in fact, day one” without adequately considering the possible consequences.

“That is how we found ourselves in this total mess, economically,” he said, describing the subsidy removal as a mistake.

Tinubu announced the end of the petrol subsidy in his inaugural address on May 29, 2023, declaring that “subsidy is gone.” The decision was followed by a sharp increase in petrol prices and higher transportation and other living costs.

The Tinubu administration has maintained that subsidy removal was necessary because the previous arrangement had become financially unsustainable. The government subsequently introduced measures aimed at addressing the impact of higher fuel and living costs.

Kwankwaso said Nigerians should be able to buy petrol at a lower and more affordable price. His comments came a day after he said an NDC government led by Peter Obi would reintroduce fuel subsidy through a different approach, including increased investment in domestic refining and possible government-owned refineries.

The subsidy debate is expected to remain a major issue ahead of the 2027 general elections, with political parties and candidates proposing different approaches to petrol pricing and the management of subsidy-related policies.