Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has said he would restore petrol subsidy if elected president in the 2027 general election.
Sowore made the statement during an appearance on Arise Television on Tuesday, where he also alleged that the Federal Government was still subsidising petrol and the naira despite its claim that the petrol subsidy regime had been removed.
President Bola Tinubu announced the removal of petrol subsidy in 2023, a decision that was followed by a sharp increase in fuel prices and rising living costs.
Asked whether he would restore the subsidy if elected, Sowore responded:
“Absolutely.”
The AAC candidate argued that the government had only changed the name of the subsidy rather than completely eliminating it.
“In the first place, they’re still paying subsidies. They’re just changing the name of what they call it,” he said.
Sowore also argued that subsidy itself was not necessarily harmful, saying governments could use it to support vulnerable citizens.
“You see what everybody has agreed happened to subsidy — it’s not that subsidy is bad because there’s no country that doesn’t subsidise the poor,” he said.
However, he criticised Nigeria’s previous subsidy system, alleging that wealthy individuals and businesses benefited more from it than ordinary Nigerians.
‘Economy Tanked After Subsidy Removal’
Sowore blamed the removal of petrol subsidy for worsening economic conditions and the decline in the value of the naira.
“And you saw what happened immediately you remove subsidy. Your economy tanked, your naira also went down the toilet,” he said.
He said Nigeria needed to move away from what he described as an outdated economic approach that had allowed poverty to become widespread.
The AAC candidate also criticised the government’s focus on economic indicators, arguing that favourable statistics would have little meaning if Nigerians could not afford basic necessities.
“It’s all about the optics. But optics don’t feed people,” Sowore said.
Sowore Raises Food Security Concerns
Sowore further expressed concern over Nigeria’s food security situation, saying economic hardship had contributed to worsening food shortages.
He referenced a recent Food and Agriculture Organisation (FAO) report, claiming that Nigeria was among countries facing food shortages in 2026.
According to him, tackling poverty and food insecurity should take priority over presenting economic statistics that do not reflect the realities faced by ordinary Nigerians.
