Omoyele Sowore, presidential candidate of the African Action Congress (AAC), has promised to restore petrol subsidy if elected president in 2027.
Sowore, speaking on Arise Television on Tuesday, also alleged that the federal government is still subsidising petrol and the naira despite its claim that the petrol subsidy has been removed.
He said subsidy itself was not necessarily bad, arguing that governments should provide support to vulnerable citizens. However, he maintained that Nigeria’s subsidy system has historically benefited wealthy individuals and businesses more than the poor.
According to him, the removal of petrol subsidy worsened the country’s economic challenges, contributing to the depreciation of the naira and increased hardship.
Sowore also criticised the government’s focus on economic indicators, arguing that improved statistics mean little if Nigerians cannot afford basic necessities.
The AAC candidate further raised concerns over food insecurity, citing a Food and Agriculture Organisation (FAO) report which he said highlighted Nigeria’s worsening food situation.
He said tackling poverty and food insecurity should take priority over presenting favourable economic figures, stressing that economic policies must ultimately improve the living conditions of ordinary Nigerians.