Nigerian businessman, Cosmas Maduka, has argued that the 2023 Labour Party presidential candidate, Peter Obi, would also have ended the fuel subsidy regime on his first day in office like President Bola Tinubu did if he had won the election.
The Coscharis Group founder argued further that there is nothing Peter Obi would have done differently or better than Tinubu if he was the one who won the 2023 presidential election in the country.
Maduka made the submission while speaking on the Mic On podcast with Seun Okinbaloye on Saturday.
He stressed that the economic realities in Nigeria would have forced whoever emerged as president to take some drastic decisions and policies.
“People have asked me, will Peter Obi have done anything different if he won the election? I said no. He would have removed subsidy from day one also,” he said.
Maduka, however acknowledged the economic hardship brought about as a result of the policies introduced by the government and urged the government to reinvest subsidy savings into infrastructure to benefit the wider public.
He argued that anything short of that would leave the economy worse off.
“If the funds are used productively, there will be progress,” he stated.
On Nigeria’s debt profile, Maduka dismissed concerns and submitted that the country is on the right track. He however urged the government to focus on capital and infrastructural development, rather than frivolous expenditure.
“There is some level of discipline required to curtail excesses from the government. Are we in the right direction? Yes,” he submitted.
