Ayo Arise, a former senator and prominent member of the All Progressives Congress (APC), has strongly opposed recent calls to reinstate Nigeria's fuel subsidy regime. He described such proposals as economically retrogressive, emphasizing that reverting to the old system could jeopardize the financial benefits gained from its removal.

Arise's comments come in response to former Vice President Atiku Abubakar's pledge to reinstate the fuel subsidy if elected president in 2027. The APC chieftain argued that the elimination of the subsidy, while initially causing economic strain, has significantly bolstered the financial capacity of both federal and state governments. This enhancement has allowed them to fulfill their financial obligations and invest more in developmental projects.

He pointed out that the removal of the subsidy has enabled timely salary payments for government workers, which in turn has positive ripple effects on the economy. According to Arise, when salaries are paid on time, employees are better positioned to meet their household responsibilities, pay school fees, and engage in consumer spending.

Highlighting the broader implications of the subsidy removal, Arise stated, "You now have a government that has sufficient funds without any form of interruption to pay salaries, as I told you, without running to the federal government to ask for any sort of loans, to pay salaries." He noted that the additional resources available to governments could be redirected towards critical areas of development, benefiting the populace at large.

Arise expressed concern that those advising Abubakar may not have fully grasped the negative consequences of reinstating the subsidy. He mentioned that the previous regime was marred by mismanagement and corruption, where resources were siphoned away without tangible benefits for the country. He stated, "The regime of total mismanagement, of corruption, of siphoning our resources outside, people coming in saying that they have imported oil, they just bring papers, you pay them subsidy without anything coming to Nigeria."

The former senator underscored the importance of assessing the benefits of subsidy removal beyond the immediate rise in living costs. He argued that the financial stability achieved by governments since the subsidy was lifted has led to improved living conditions for citizens, which should not be overlooked.

As the political landscape heats up ahead of the 2027 elections, Arise's remarks serve as a significant reminder of the complexities surrounding the fuel subsidy debate and its implications for Nigeria's economic future.