The Obidient Movement says Nigerians could pay half the reference price of petrol under a proposed subsidy policy by its leader, Peter Obi, if elected president in 2027.
The Movement’s Media and Communications team, through its spokesperson, Mr. Onyeka Dike, in Abuja, said the proposed policy would make petrol more affordable while ensuring transparency and accountability in the management of public funds.
Mr. Dike said the policy would differ from the previous subsidy system, which he alleged was affected by corruption, questionable consumption figures and poor accountability.
He questioned the Federal Government’s fuel consumption figures, noting that President Bola Tinubu reportedly put daily petrol consumption at about 30 million litres in September 2024, while Finance Minister Taiwo Oyedele gave a figure of approximately 50 million litres in October 2026.
Mr Dike asked the government to explain the difference and publish independently verifiable data on daily consumption and the basis for calculating fuel-related interventions.
He argued that inaccurate consumption figures could expose public funds to abuse, insisting that Nigerians deserved clear information on the quantity of petrol sold, the cost of interventions and the beneficiaries of government payments.
According to him, an Obi administration would calculate subsidy payments using a reference price published weekly by an independent panel based on international prices, transportation costs and verified local expenses.
He explained that payments would be tied to actual petrol sales verified through metered filling station pumps, with digital tracking introduced to monitor the movement of fuel from refineries to filling stations.
Mr. Dike said the proposed policy would also allow all licensed Nigerian refineries to participate under transparent rules, adding that access to domestic crude oil for local refining should not favour a particular company or group.
He said the framework would require legislative and budgetary approval, while the government would publish monthly reports detailing petrol volumes sold, subsidy payments, beneficiaries, violations, penalties, recovered funds and audit findings.
The spokesperson added that the proposed reforms would include an audit of energy security contracts, measures to reduce corruption and excessive crude production costs, improved pipeline protection and fair access to crude oil for local refineries.
He also questioned the Federal Government’s decision to introduce a 30-day petrol discount despite its position that fuel subsidy had been removed, arguing that Nigerians deserved an explanation of how the discount and related payments would be funded.
Mr. Dike maintained that the proposed policy was intended to provide lasting relief rather than a temporary intervention, while ensuring that public funds were properly managed.
He said Nigerians should not have to choose between affordable petrol and accountable government, adding that the proposed policy would be guided by the principles of verification, legislative oversight and public disclosure.
He urged Nigerians to support a system in which public resources are managed transparently and used to improve citizens’ welfare.
