African Democratic Congress (ADC) chieftain, Kenneth Okonkwo, has accused the Federal Government of attempting to reintroduce petrol subsidy through its fuel discount policy, describing the initiative as an “import-related subsidy” programme.
Okonkwo, a spokesman for the ADC presidential campaign, made the allegation on Sunday during an interview on Inside Sources, aired on Channels Television.
He argued that the policy would effectively subsidise imported petroleum products rather than support domestic refining, warning that it could recreate the corruption and financial irregularities associated with the previous petrol subsidy regime.
According to him, the Nigerian National Petroleum Company Limited (NNPCL) is not producing refined petrol locally, meaning the proposed price reduction would largely benefit imported fuel.
Okonkwo also expressed concern that the arrangement could encourage inflated claims about fuel consumption and subsidy costs, recalling past controversies over discrepancies in reported petrol volumes.
He questioned the rationale behind supporting foreign refineries and shipping operations through the policy, arguing that the government should instead supply crude oil directly to the Dangote Refinery for domestic processing and distribution.
The ADC chieftain’s comments followed the Federal Government’s announcement of a 30-day fuel discount policy aimed at cushioning the impact of rising petrol prices on Nigerians.
The policy has attracted criticism from opposition figures, who have described it as a possible return of petrol subsidy through the backdoor.
However, the Federal Government has rejected the allegations, insisting that the discount offered by NNPCL is not a reinstatement of petrol subsidy because public funds are not being used to finance the price reduction.
The Minister of Finance, Taiwo Oyedele, explained that under the arrangement, NNPCL would bear the cost of the discount through a reduction in its retail price rather than through direct government funding.
