Former Vice-President, Atiku Abubakar, has reiterated his promise to restore fuel subsidy if elected president in 2027, insisting that his position remains unchanged despite opposition from President Bola Tinubu’s administration.
Atiku, the presidential candidate of the African Democratic Congress, restated his commitment in a social media post on Monday, accompanied by a new video in which he outlined his position on the controversial policy.
“My position stands! I will restore subsidy to make life easier and more affordable for Nigerians,” he declared.
The debate over fuel subsidy has remained a major political and economic issue since Tinubu announced its removal during his inauguration on May 29, 2023.
The decision triggered a sharp increase in petrol prices, transportation fares and the cost of goods and services, adding to the financial pressure on households and businesses across the country.
Tinubu has consistently defended the decision, arguing that the subsidy regime was financially unsustainable and riddled with corruption, fuel smuggling and other abuses.
He has also maintained that reversing the policy would worsen the country’s economic difficulties.
Speaking during a state reception at the ARISE Palm Resort in Uyo, Akwa Ibom State, on November 6, the President ruled out any possibility of returning to the subsidy arrangement.
“Nigeria will never go back to subsidy unless there’s no uncommon Governor, unless there’s no uncommon Senate President, unless there’s no lawmaking again,” Tinubu said, making reference to Akwa Ibom State Governor, Umo Eno, and Senate President, Godswill Akpabio.
The President had also compared reversing the subsidy removal to asking Moses to return to Egypt, insisting that ending the policy was necessary to prevent Nigeria from heading towards bankruptcy.
He further argued that the decision had increased revenue available to the federal, state and local governments.
However, Atiku has argued that Nigerians need immediate relief from the rising cost of living, particularly the high prices of transportation and food.
He has maintained that restoring subsidy under a different arrangement would help reduce the burden on citizens without returning to the previous system, which he considers vulnerable to corruption.
Under his proposed approach, the intervention would be targeted and temporary, focusing on crude oil supplied to local refineries to enable them to produce and sell petroleum products at more affordable prices.
He has also proposed monitoring mechanisms to ensure consumers benefit from the arrangement, with the subsidy gradually withdrawn when economic conditions improve.
Atiku recently reiterated the proposal during political engagements in Sokoto and Kebbi states, where he also pledged to tackle insecurity, reopen Nigeria’s land borders for legitimate trade and create employment opportunities ahead of the 2027 general elections.
