Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has alleged that the Nigerian government is still paying subsidies on petrol and the naira, despite its repeated claims that fuel subsidy has been removed.
Sowore made the allegation on Tuesday during an interview on Arise Television’s Morning Show.
According to him, the government is secretly subsidising the naira by maintaining its value at a certain exchange rate against the US dollar.
“They are still paying subsidies. They have only changed the name of what they call it,” Sowore said.
He argued that subsidy is not necessarily bad, saying governments around the world provide various forms of support to protect vulnerable citizens.
However, Sowore claimed that Nigeria’s subsidy system largely benefits wealthy individuals and importers through customs waivers and other incentives, rather than helping ordinary Nigerians.
He also linked the removal of fuel subsidies to the depreciation of the naira and worsening economic hardship, saying Nigerians have faced increased poverty and a decline in purchasing power since the policy was introduced.
Sowore questioned why the government would deny the existence of subsidies if such interventions were still being implemented.
He called for greater transparency in the management of Nigeria’s economy and urged the government to ensure that economic policies benefit ordinary citizens rather than primarily serving wealthy interests.
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