Picture: Chief Ben Uzuegbu (SAN)
By Eche Nwaobasi, Onitsha
An Anambra State-based Senior Advocate of Nigeria (SAN), Chief Ben Uzuegbu, has thrown his weight behind the proposal by the 2027 presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, to reintroduce fuel subsidy if elected president.
Atiku had said during media interviews and public engagements in August 2026 that he would restore fuel subsidy, arguing that the savings from the removal of the subsidy under the current administration had not translated into sufficient benefits for ordinary Nigerians.
He clarified that he was not opposed to ending the old importation-based subsidy system, but maintained that Nigerians had yet to see the promised benefits of its removal.
According to reports, Atiku’s proposal would involve shifting subsidy support away from fuel importation and middlemen towards domestic production, including supplying crude oil to local refineries at preferential rates.
Speaking with journalists at his law chambers in Onitsha, Chief Uzuegbu said the reintroduction of fuel subsidy was a policy Nigerians should consider, arguing that governments around the world subsidise essential commodities and services, including energy and agricultural products.
He acknowledged that corruption had historically undermined Nigeria’s fuel subsidy regime, but said the problem could be addressed through effective monitoring and stronger government controls.
“Someone may decide to import 100 barrels, but will give a quotation of 1,000 barrels. This is a common practice among fuel importers, and if government is willing to stop corruption associated with fuel subsidy removal, it can do so,” he said.
Uzuegbu argued that government should not allow the cost of petroleum products to rise sharply while failing to adequately address crude oil theft and other leakages in the petroleum sector.
The senior lawyer also questioned the economic gains Nigerians had derived from the removal of fuel subsidy, particularly in relation to inflation, the exchange rate and general living conditions.
“In the past three years, removal of fuel subsidy has caused hyperinflation in Nigeria. Three years after fuel subsidy removal, where is the money realised from it? How much is realised, and what has it been used for?” he asked.
He further questioned whether Nigeria’s economic indicators had significantly improved since the subsidy was removed.
“Is Nigeria’s GDP and inflation getting better after the subsidy removal? Has the naira exchange rate to the dollar gotten any better?”
Uzuegbu maintained that oil-producing countries around the world provide various forms of support for energy and other essential sectors, arguing that Nigeria should not necessarily be an exception.
“All the countries producing oil all over the world subsidise fuel. Nigeria cannot be an exception. My suggestion is that fuel subsidy should be there, while the government should make efforts to fight corruption associated with it,” he said.
The SAN also criticised successive Nigerian governments for what he described as inadequate investment in the country’s petroleum refining capacity despite the huge revenues associated with the removal of fuel subsidy.
He questioned why more resources had not been channelled into rehabilitating existing government-owned refineries or establishing additional ones.
“Why has the Nigerian government refused to plough the money realised from subsidy removal into building refineries in Nigeria? Look at Dangote, he started from the scratch, and look at where he is today,” he said.
Uzuegbu’s comments come amid continuing national debate over the economic consequences of fuel subsidy removal, the rising cost of living and proposals for alternative ways of reducing the burden of energy costs on Nigerians.
Tags: #FuelSubsidy #AtikuAbubakar #Nigeria
