The Presidency on Monday criticized Labour Party’s 2023 presidential candidate, Peter Obi, over his remarks regarding the management of funds saved from the removal of fuel subsidy by the Bola Tinubu administration.
Reacting to Obi’s call for transparency on the subsidy savings during an interview on Arise News, the Presidency accused the former Anambra State governor of lacking depth in economic and governance matters.
In a statement posted on his official X account, the Special Adviser to the President on Policy and Communication, Daniel Bwala, described Obi’s comments as politically motivated. He alleged that Obi was more focused on seeking political power than understanding the complexities of economic policy and public administration.
“Peter Obi is driven by an ambition for power without grasping the basic principles of economics or governance,” Bwala wrote.
Obi had questioned the federal government’s handling of the funds generated since the end of the fuel subsidy regime, urging authorities to account for the billions accrued from the controversial policy shift.
In his X handle @BwalaDaniel, he said: “Is anybody watching @PeterObi on Arise TV? He agreed with our policy of removal of subsidy and unifications of the foreign exchange; he claimed he would have done it better than us in an “organized manner”
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“He was asked what is the “organized manner” He played with words yet to arrive at agreeing with us.
“Anybody with rational mind knows these guys are just looking to grab power; but they don’t have any alternative agenda.
“He seem to have Very shallow knowledge of economics and governance
“Remember this is even an interview anchored by a member of his Obidient movement ohhh that’s why you don’t hear “I put it to you” no barking like a Rottweiler; Yet “if it didn’t Dey it didn’t Dey.”
Peter Obi, during his appearance on Arise News, called on President Bola Tinubu to provide a detailed account of how his administration has utilized the billions reportedly saved from the removal of fuel subsidy.
While acknowledging that there was nothing inherently wrong with scrapping the controversial petroleum subsidy or floating the naira, Obi stated that he would have adopted similar measures if elected president.
However, he criticised the Tinubu administration’s approach, describing it as abrupt and poorly coordinated.
According to Obi, such significant economic reforms should have been rolled out gradually and in a more structured manner to minimise the impact on Nigerians.
Obi said, “I have consistently maintained that I would have removed the fuel subsidy.
“If you go to my manifesto, it is there and the steps I would have taken in an organised manner.
“There is nothing wrong with the removal of the fuel subsidy.
“What is wrong is the haphazard way in which it was announced and implemented.
“Since we were told that we removed it because we don’t want to borrow and that the funds will allow for investments in critical infrastructure.
“Billions saved. Where is it? Where is it invested in critical areas of development?”
