Young Progressives Party (YPP) presidential candidate Peter Agada has ruled out restoring petrol subsidy if elected president in 2027, saying Nigeria should focus on improving revenue management and curbing wasteful government expenditure.

Agada disclosed his position during an appearance on Channels Television’s Politics Today, where he discussed his economic priorities and the challenges facing the country’s public finances.

The presidential hopeful maintained that removing the subsidy is not the central problem behind Nigeria’s economic difficulties. Instead, he argued that the country needs to examine how much it earns from crude oil and how effectively those earnings are managed.

According to Agada, Nigeria’s oil revenue requires closer scrutiny, particularly after accounting for royalties and the expenses associated with crude oil production. He questioned whether the amount ultimately available to the government is sufficient to meet the country’s financial obligations.

He also called for a review of the Engineering, Procurement and Construction (EPC) system, describing it as an area requiring significant reforms. He believes changes to the process could help reduce financial waste and improve the government’s earnings.

Agada acknowledged that Nigeria faces challenges in both revenue generation and expenditure. However, he identified poor spending practices and financial leakages as major concerns that his proposed administration would prioritise.

His position differs from that of former Vice President Atiku Abubakar, who has advocated restoring petrol subsidy as a measure to reduce fuel costs and ease the financial pressure on Nigerians.

The subsidy debate remains a major issue ahead of the 2027 general election. President Bola Tinubu announced its removal during his inauguration on May 29, 2023, a decision followed by higher petrol prices and increased costs of transportation and other essential goods and services.

While supporters of retaining the policy argue that subsidy restoration could provide relief to households, Agada believes the country should address weaknesses in public financial management rather than reverse the reform.

His comments add another dimension to the emerging economic debate among presidential aspirants, with questions surrounding fuel prices, government revenue, public spending and the cost of living likely to remain central to discussions ahead of the election.