The presidential candidate of the Young Progressives Party (YPP), Peter Agada, has ruled out restoring petrol subsidy if elected president in Nigeria’s 2027 general election, saying his administration would instead focus on improving oil revenue and curbing wasteful government spending.
Agada made his position known during an appearance on Channels Television’s Politics Today on Friday, October 16, 2026, where he discussed his plans for addressing Nigeria’s economic challenges.
His comments place him among the presidential hopefuls who support maintaining the removal of petrol subsidy introduced by President Bola Tinubu in May 2023, although they differ on how to reduce the economic pressure facing Nigerians.
Why Peter Agada Opposes Subsidy Restoration
Agada argued that Nigeria’s economic difficulties cannot be addressed simply by bringing back petrol subsidy.
According to the YPP candidate, the country must pay closer attention to how oil revenue is generated, the costs associated with crude oil production and the amount ultimately available to the government.
He questioned whether Nigeria was retaining enough revenue from its petroleum resources to finance public services and development projects effectively.
Agada said his proposed approach would focus on addressing weaknesses in the management of public funds rather than reversing the existing fuel pricing policy.
YPP Candidate Targets Government Spending and Waste
The presidential hopeful identified government expenditure as a major area requiring reform.
Agada said Nigeria faced both revenue and spending challenges but argued that inefficient expenditure was a particularly serious concern.
He also pledged to examine the Engineering, Procurement and Construction (EPC) system, which he believes requires significant changes to reduce waste and improve the use of public resources.
According to Agada, reviewing the system could help identify financial leakages and improve the government’s ability to generate value from available resources.
He maintained that better management of public spending should be central to any effort to improve the economy without restoring petrol subsidy.
Atiku Abubakar Takes a Different Position
Agada’s position contrasts with that of African Democratic Congress (ADC) presidential candidate Atiku Abubakar, who has advocated restoring a form of petrol subsidy to help reduce fuel costs and ease the financial burden on Nigerians.
The disagreement highlights a key economic policy issue ahead of the 2027 election: whether to reverse subsidy removal or retain the existing policy while pursuing other measures to lower costs and improve public finances.
Supporters of subsidy restoration argue that intervention could offer relief to households and businesses struggling with high transport and living costs. Those opposed to a return have raised concerns about the burden subsidies could place on government finances.
The competing proposals leave voters with different approaches to assessing fuel affordability, public spending and the management of Nigeria’s oil resources.
Tinubu Removed Petrol Subsidy in 2023
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023. The policy was followed by a sharp increase in petrol prices, contributing to higher transportation costs and putting additional pressure on household budgets and businesses.
The policy has remained a major subject of debate as politicians discuss the country’s economic direction ahead of the next presidential election.
Agada’s declaration indicates that, if elected, he would retain the central policy of subsidy removal while pursuing reforms aimed at improving revenue collection and controlling government expenditure.
His proposals will form part of the wider debate over how Nigeria can manage its petroleum resources, improve public services and address the cost-of-living pressures experienced by citizens.
As the 2027 election approaches, the candidates’ positions on fuel pricing, government spending and oil revenue management are likely to remain important issues for voters evaluating their economic plans.