Atiku promises fuel subsidy changes as Presidency challenges proposal ahead of 2027

Experts: Preserve reforms while aggressively mitigating social and economic costs By Nnamdi Ojiego The issue of fuel subsidy has returned to the front burner and is raging fiercely barely three months to the general elections.The presidential and National Assembly Elections hold on January 16, 2027 while governorship and state assembly polls hold two weeks later.Former […] The post SUBSIDY SHOWDOWN: Tinubu resists pressure, steps up palliatives – Atiku, Obi, Makinde, Adebayo, workers, others insist on restoration appeared first on Vanguard News.

ADC presidential candidate, Atiku Abubakar, faults the government’s fuel subsidy removal, sympathising with Nigerians over high costs and promising to make Read More: https://punchng.com/i-will-make-life-affordable-again-atiku-promises-nigerians/

The 2027 presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has outlined a strategic plan to improve economic affordability in Nigeria through targeted fuel subsidies. Speaking during a world press conference on Thursday to mark Nigeria’s 66th Independence Anniversary, Atiku said he would introduce a capped production subsidy exclusively for fuel refined within Nigeria. According […] October 1: What I’ll do with fuel production subsidy as president – Atiku​

 The Tinubu Support Group (TSG) says any attempt to reverse the federal government’s fuel subsidy reform could set Nigeria back by 20 years.   In a statement issued on Monday, Umar Yakasai, TSG director-general, accused former Vice-President Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), of playing politics with the issue ahead of the 2027 elections.   Yakasai said Nigerians should be wary of political promises that could undermine the country’s economic reforms.   According to him, Atiku’s position is capable of creating uncertainty among investors and reversing some of the gains recorded since the reform.     In August, Atiku had said he would restore the petrol subsidy if elected president in 2027.   Atiku, who spoke in Hausa during an interview with an ADC media group, said the administration of President Bola Tinubu had failed to account for the funds saved from the removal of the petrol subsidy.   However, President Tinubu faulted Atiku’s plan, saying the proposal showed “serious ignorance of governance and economy”.     The president noted that before he assumed office, some states struggled to pay salaries and pensions, adding that the removal of the subsidy had made more funds available to the sub-nationals.   He said Nigeria had already gone through the difficult phase of the subsidy reform and could not afford to return to a system that placed a heavy financial burden on the government.   Yakassai said the federal government no longer had the resources required to sustain the subsidy regime, noting that attempting to restore it could further strain the country’s finances.   The TSG director-general said the subsidy debate should not be reduced to an electoral promise due to its implications for the country’s fiscal position and long-term economic stability.     He added Atiku might not intend to reverse the subsidy reform in the manner initially understood by Nigerians.   Yakasai said Atiku’s consistent stand on the removal of petrol subsidy since 1999, beginning with the Obasanjo presidency, where he served as vice-president and chairman of the national economic council, up to his 2023 presidential campaign.   “The question Nigerians should ask is when did Atiku change his longstanding position on fuel subsidy removal, which he has held for over two decades, and what has changed to warrant the sudden reversal of policy on subsidy,” he said.   “Is it a populist move to play to the gallery and deceive Nigerians in order to get votes through false promises?”     The TSG director-general cautioned opposition politicians against making promises that could raise unrealistic expectations among Nigerians or unsettle investors.   He said Nigeria had begun to emerge from the economic difficulties associated with decades of dependence on fuel subsidies.     Yakasai said reversing the policy could undermine ongoing efforts to rebuild the economy, urging Nigerians to scrutinise political promises ahead of the 2027 elections.   Yakasai said the economic indicators showed that Nigeria was beginning to move in the right direction, noting that the economy grew by 4.43 percent in the second quarter of 2026, compared with 3.89 percent in the first quarter.     He added that crude oil production had also increased to about 1.72 million barrels per day, noting that such developments should be consolidated instead of disrupted promises to reverse existing reforms.

Dino Melaye, former senator of Kogi west, says the subsidy return plan of former Vice-President Atiku Abubakar may reduce the price of petrol to between N400 and N500 per litre if implemented.   The African Democratic Congress (ADC) chieftain spoke on Monday during an appearance on the Democracy Today programme on African Independent Television (AIT).   On Thursday, Atiku, the ADC presidential candidate for the 2027 elections, announced his campaign council, appointing Melaye to lead the contact and mobilisation directorate.   In August, Atiku had said he would restore the petrol subsidy if elected president in 2027.   Atiku, who spoke in Hausa during an interview with an ADC media group, said the administration of President Bola Tinubu had failed to account for the funds saved from the removal of the petrol subsidy.   However, President Tinubu faulted Atiku’s plan, saying the proposal showed “serious ignorance of governance and economy”.   The president noted that before he assumed office, some states struggled to pay salaries and pensions, adding that the removal of the subsidy had made more funds available to the sub-nationals.     Meanwhile, Melaye said the ADC’s objective is to make Nigeria more affordable through the restoration of the petrol subsidy.   “Atiku is saying he will take these things from the few people and give them back to the people. By so doing, the possible concomitant effect is that there will be a reduction in the price of petroleum products,” he said.   “Once there is a reduction in price from N1,400, you will start buying fuel at N500 or N400; definitely it’s going to have resultant effects on every other price of goods and commodities.”   The former senator said the removal of the subsidy had increased the cost of living, adding that Nigerians, regardless of political affiliation, buy petrol at the same price.     “Today, there is no APC market or petrol station. We all go to the same market. We buy fuel at N1,400. So everybody is concerned that you have moved us from hunger into compulsory fasting. The country is completely gone, economically and otherwise,” he said.   “What ADC is saying is that we are going to make Nigeria affordable again by bringing back fuel subsidy,” he said.   The ADC chieftain argued that the price of petrol affects transportation and the movement of goods and commodities.   “Everything revolves around subsidy. Once transportation is affected, movement of goods and commodities will be affected,” he said.     “Aviation fuel is also affecting movement in the air. So, the fuel is the interconnector to every other facet of the economy.”   He alleged that corruption, rather than subsidy itself, was responsible for the loss of public funds.     “Ab initio, there is no subsidy. What you have is corruption, money being stolen. So, we are replacing corruption now by leveraging the people. What few corrupt individuals are taking away, we are taking it back to the people,” he said.   He argued that despite the removal of the petrol subsidy, the Tinubu administration has borrowed more than the eight-year administration of former President Muhammadu Buhari.     “During Buhari’s time, with fuel subsidy, Buhari borrowed N87 trillion in eight years. But Tinubu, in three years without paying subsidy, borrowed N157 trillion. Why will you be borrowing when you are making more?” he asked.  

The governor said the complexities surrounding the importation and distribution of Premium Motor Spirit, commonly known as petrol, made a return to subsidy difficult to implement effectively. The post 2027: Atiku’s plan to reintroduce subsidy not practicable  —  Gov Sule appeared first on Vanguard News.

Alex Otti, Abia state governor, says subsidising consumption encourages inefficiency and corruption rather than production.   Otti, a member of the opposition Labour Party (LP), reiterated that he is in support of some of President Bola Tinubu’s policies.   Speaking during an interview on Arise TV on Thursday, Otti expressed his support for the removal of petrol subsidy by the Tinubu administration, warning against attempts to restore same.   He said government resources should be channelled towards supporting production and creating systems that enable businesses to operate efficiently.   “I’ve always been consistent on subsidies. And I’ve written extensively. I also refer you to my backpage in THISDAY, including the one that I wrote in 2020 during COVID-19. At that time, nobody was buying oil, and I said it was a good time to remove the subsidy,” Otti said.   The governor added that subsidising consumption would encourage waste and create opportunities for abuse.   He noted that consumers become conscious of their usage when they bear the cost themselves.     “When you subsidise consumption rather than production, you are just subsidising laziness. You are subsidising, sometimes, corruption,” he said.   He noted that the removal of subsidy on premium motor spirit (PMS) was the right decision ab initio, despite the hardship the policy has inflicted on Nigerians.   “You know, as election approaches, people will be making all sorts of arguments. But removing the subsidy was the right thing to be done,” the governor said.   “If you are pushing for a subsidy to return, you don’t mean well for the country.”     Otti said businesses do not necessarily require subsidies if the government can guarantee reliable power supply.   “For the people who use it for production, for their factories, those people, they really don’t need the subsidy. They just need constant power supply. And once you’re able to guarantee them constant power supply, they’ll pay,” he added.   In August, Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), said he will restore petrol subsidy if elected president in 2027.   Atiku said the government has failed to account for the funds saved from the removal of subsidy.   “I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said in Hausa.

 President Bola Tinubu’s Special Adviser on Policy Communication, Daniel Bwala, on Thursday said the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has no plans of restoring fuel subsidy if elected President in 2027.   Recall that Tinubu had ended the fuel subsidy regime during his presidential inauguration in Abuja in 2023.   The president had said the removal of fuel subsidy would stop the cabals benefitting from the scheme, while the funds accrued would be put to better use.   Since the commencement of the 2027 election campaign, the ADC presidential candidate has being reeling out how he intends to restore the subsidy on fuel.   Atiku’s spokesman, Kenneth Okonkwo, while featuring on Arise Television’s Prime Time, said if the “entire subsidy was removed without any plan, subsidy can be restored without any plan”.   Reacting, Bwala described Okonkwo’s remark as a populist rhetoric.   Posting on X, the presidential aide wrote: “Hear @Atiku plan to restore subsidy, lol we told you there is no plan, it’s just a populist rhetoric.”

President Bola Tinubu’s Special Adviser on Policy Communication, Daniel Bwala, on Thursday said the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has no plans of restoring fuel subsidy if elected President in 2027. Recall that Tinubu had ended the fuel subsidy regime during his presidential inauguration in Abuja in 2023. The president had said […] 2027: Atiku has no plans to restore fuel subsidy – Presidency

 Former Vice-President Atiku Abubakar says Nigerians favour the restoration of petrol subsidy and want relief from the hardship caused by rising fuel and transportation costs.   Atiku, the presidential candidate of the African Democratic Congress (ADC), spoke in a statement issued on Tuesday by Phrank Shaibu, his senior special assistant on public communication.   He cited a survey by SBM Intelligence which, according to him, found that 67.4 percent of respondents rejected the federal government’s current petrol pricing policy, with 19.2 supporting it.   He said the finding represented widespread dissatisfaction with the federal government’s fuel policy and should prompt President Bola Tinubu to reconsider his administration’ approach.     “This survey is no longer merely about economic policy. It has become a democratic question,” Atiku said.   “When an overwhelming majority of Nigerians declare that a government policy is destroying their lives, responsible leadership must listen.”   The former vice-president said the survey identified petrol as the second-most cited national problem and the Tinubu administration’s worst-rated policy issue, with a score of 1.69 out of four.     He said the findings reflected the difficulties faced by families, workers, farmers and businesses as fuel and transportation costs continue to rise.   “This survey is not merely about percentages. It is the collective cry of Nigerian families who can no longer afford food, workers whose salaries disappear on transportation, farmers who cannot move their produce to market and businesses collapsing under the weight of fuel and energy costs,” he said.   Atiku said Nigerians had endured higher transportation costs, rising food prices, declining purchasing power and deeper economic hardship since the removal of petrol subsidy.   “The survey simply confirms what Nigerians already know: Tinubu’s fuel policy has caused far more harm than good,” he stated.     ‘PETROL CONCERN IS HIGHER IN RURAL AREAS’   The ADC presidential candidate also cited regional figures from the survey, saying 32.4 percent of rural respondents identified petrol as their primary concern, compared with 11.7 percent of urban respondents.   He said petrol was also the leading concern in the south-west, at 30.5 percent, and the south-south, at 29.1 percent.   According to Atiku, the figures showed that concerns over fuel prices extend across different parts of the country.     “President Tinubu removed subsidy with a slogan, not a strategy. He had no credible plan for domestic refining, mass transportation, wage protection or the millions of small businesses that depend on affordable energy,” he said.   Atiku said the government had ignored warnings about the likely effects of higher petrol prices on purchasing power, transportation costs and food inflation.     Atiku reiterated his proposal for a transparent production subsidy tied specifically to petroleum products refined in Nigeria and sold to Nigerians.   “If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians. Imports will not qualify,” he said.     He said the proposed programme would have a fixed spending limit, national assembly approval and independent audits.   According to him, the policy would be aimed at reducing petrol prices, strengthening domestic refining, creating jobs and restoring purchasing power.  

The vice presidential candidate of the Nigerian Democratic Congress, NDC, Rabiu Kwankwaso, has said the party would reintroduce fuel subsidy in a different form if it wins the January 2027 presidential election. Kwankwaso stated this in an interview with Arise TV, describing President Bola Tinubu’s decision to remove the subsidy on his first day in […] 2027: We’re bringing back fuel subsidy – Kwankwaso

The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has promised to crash the fuel pump price with local refinery subsidy if elected President in the 2027 general elections.   Atiku made the pledge on Friday during a world press conference in his Abuja residence.   The former Vice President’s promise came a few weeks after he reignited the fuel subsidy debate.   Currently, the pump price of petrol in the country has climbed to N1,400 per litre.   “If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians.   “Our production subsidy will work the same way: government support must bring prices down. Only products confirmed to be refined in Nigeria will qualify.   “Imported products will not. The programme will have a fixed spending limit, National Assembly approval and independent audits,” Atiku said.

The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has promised to crash the fuel pump price with local refinery subsidy if elected President in the 2027 general elections. Atiku made the pledge on Friday during a world press conference in his Abuja residence. The former Vice President’s promise came a few weeks after he reignited the […] 2027: How I will crash fuel price with local refinery subsidy – Atiku

The presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has alleged that President Bola Tinubu will reverse fuel subsidy as election nears. Atiku made the claim on Friday during a world press conference at his residence in Abuja. The former Vice President, therefore, warned Nigerians not to fall for the trick, stressing that Tinubu will […] ‘Tinubu’ll bring back fuel subsidy as election tricks’ – Atiku alleges

The Presidency had rejected Atiku Abubakar’s subsidy pledge, warning it threatened reforms, fiscal stability, and investment in Nigeria’s refining sector.

The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has explained that he is restoring fuel subsidy so that Nigerians can take advantage of local production. With the commencement of the 2027 presidential election campaign, Atiku had vowed to restore the fuel subsidy regime if elected as President of Nigeria. Atiku said the fuel subsidy […] Return of fuel subsidy will put more money in Nigerians’ pocket – Atiku

Former Vice President Atiku Abubakar has accused the Tinubu administration of applying double standards in its approach to government intervention in the economy, arguing that support for domestic fuel production should not be treated differently from tax waivers and incentives granted to businesses. Atiku, in a statement issued by his Senior Special Assistant on Public […] Fuel subsidy: For three years, Nigerians have been told to endure – Atiku

Fayemi reiterated his support for the removal of fuel subsidy, saying he had advocated the policy for years, including during his tenure as chairman of the Nigerian Governors’ Forum. The post 2027: Atiku using subsidy promise like APC used Muslim-Muslim ticket — Fayemi appeared first on Vanguard News.

The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, on Sunday declared that President Donald Trump of the United States, US, is backing his proposed policy on the restoration of fuel subsidy. Atiku had pledged to return the subsidy on fuel if elected as the President of Nigeria in 2027. He made this known in a statement […] Trump supports my plan to return fuel subsidy – Atiku

.Says, apologise to Nigerians or be rejected over petrol price hike By Omeiza Ajayi ABUJA: Presidential candidate of the African Democratic Congress ADC, Atiku Abubakar has alleged that the President Bola Tinubu administration has entered “full panic mode” and is now plotting to reintroduce fuel subsidy through the back door ahead of the 2027 election, […] The post 2027: Tinubu panicky, plots to reintroduce subsidy through backdoor, Atiku alleges appeared first on Vanguard News.

By Dickson Omobola Former National Chairman of the African Democratic Congress, ADC, Ralph Nwosu, Wednesday, insisted that President Bola Tinubu was wrong to remove the fuel subsidy, saying the party’s presidential candidate, Alhaji Atiku Abubakar, had shown boldness by declaring that he would reintroduce the policy. Nwosu lamented that civil servants now sleep at motor […] The post Atiku’s subsidy reversal plan’ll let Nigerians breathe – Nwosu appeared first on Vanguard News.

Former Vice President and African Democratic Congress’ presidential candidate, Alhaji Atiku Abubakar’s claim to the limelight in the immediate aftermath of the commencement of the campaigns for the 2027 presidential election has proven to be temporary after all. He seemed to have galvanised the public imagination in a sudden burst of energy. It was as […] The post Atiku Abubakar’s petrol subsidy gambit, by Rotimi Fasan appeared first on Vanguard News.

Atiku Abubakar’s renewed push on fuel subsidy could create a fresh political challenge for President Bola Tinubu ahead of the 2027 election, an analyst says.

 The African Democratic Congress (ADC) has rejected claims by the Presidency that former Vice President Atiku Abubakar’s proposal to reduce petrol prices to about N600 per litre amounts to a return to Nigeria’s old fuel subsidy regime.   The party said Atiku’s proposal was instead a controlled production incentive for domestic refineries, designed to lower the cost of petrol while strengthening local refining capacity.   The ADC National Publicity Secretary, Bolaji Abdullahi, stated this in response to the Presidency’s criticism of the proposal.   According to him, “The Presidency has based its argument on a projected N19.1 trillion cost without properly considering how Atiku’s proposal is structured or the wider economic benefits of cheaper fuel produced locally.”   He added, “We are at a loss how the presidency conjured up this phantom figure. But we do not agree with it,”   Abdullahi explained that Atiku’s plan would have a fiscal limit and mechanisms for monitoring the movement of crude from refinery intake to finished petroleum products.   The party argued that the Presidency was criticising the old subsidy system rather than Atiku’s proposed controlled subsidy plan, which it said was intended to replace it.   The ADC also questioned the government’s justification for providing incentives to oil producers while rejecting measures aimed at reducing the burden of high fuel prices on Nigerians.   Abdullahi referred to offshore oil production incentives that can reach $11.50 per barrel, asking why a similar, controlled incentive for domestic refineries should be considered unacceptable.   “If Nigeria can provide a production-linked fiscal incentive of up to $11.50 per barrel to stimulate offshore oil production, why is a carefully controlled crude-input incentive for domestic refineries dismissed as economic madness when its objective is to make fuel cheaper for Nigerians and build domestic refining capacity?” he asked.   The ADC further argued that the cost of maintaining high petrol prices should also be considered when assessing Atiku’s proposal.   It said expensive petrol had contributed to higher transportation costs, food prices, production expenses and the wider cost-of-living crisis.   The party maintained that its proposal would be capped, audited and traceable, while potentially reducing petroleum imports, saving foreign exchange and supporting domestic refining.

The African Democratic Congress (ADC) has rejected claims by the Presidency that former Vice President Atiku Abubakar’s proposal to reduce petrol prices to about N600 per litre amounts to a return to Nigeria’s old fuel subsidy regime. The party said Atiku’s proposal was instead a controlled production incentive for domestic refineries, designed to lower the […] Atiku’s N600 petrol proposal not a return to subsidy – ADC tells Presidency

By Johnbosco Agbakwuru ABUJA — For the umpteenth time, the Presidency has condemned former Vice‑President Atiku Abubakar’s pledge to “bring back” a fuel subsidy if elected in 2027, calling the proposal a return to a failed economic policy that would deplete public finances and scare away investors. The Presidency said the promise — which would […] The post Presidency: Reintroducing fuel subsidy would drain public funds, revive corruption appeared first on Vanguard News.

The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has warned that former Vice-President Atiku Abubakar’s proposal to restore fuel subsidy could worsen Nigeria’s fiscal pressures and reverse gains recorded under the ongoing economic reforms. Yilwatda alleged that a return to the subsidy regime could lead to fuel queues, undermine the payment […] The post Atiku’s subsidy proposal will reverse economic gains, APC chair warns appeared first on Vanguard News.

By Tunde Rahman Alhaji Atiku Abubakar’s new policy shift toward bringing back the fuel subsidy is a welcome return to proper political debate and the path of rectitude. It contrasts sharply with his futile search for forged certificates and drug indictments in the run-up to the 2023 election and his latest goof about President Tinubu’s […] The post Atiku’s subsidy push & echoes of desperation appeared first on Vanguard News.

 Abdulaziz Yari, senator representing Zamfara west and director-general of the All Progressives Congress (APC) 2027 presidential campaign council, says anyone promising to restore fuel subsidy is deceiving Nigerians.   Yari, a former Zamfara governor, spoke on Saturday when members of the APC national working committee (NWC) paid him a courtesy visit.   He was reacting to Atiku Abubakar’s pledge to restore petrol subsidy if elected president in 2027.   Atiku, presidential candidate of the African Democratic Congress (ADC), has said he would introduce a targeted subsidy, arguing that the government has failed to account for savings from the removal of the policy.   ‘SUBSIDY RETURN IS IMPOSSIBLE’ Yari said there was no provision for petrol subsidy in the 2023 budget passed by the national assembly before President Bola Tinubu assumed office.   “Before Asiwaju came in in 2023, there was no budget for subsidy,” Yari said.     “National Assembly passed the budget in March, but there was no provision for subsidy in 2023 budget. How is it going to run? Definitely, whoever is there, the first thing he is going to do he will hands up.   “And anybody who is deceiving Nigerians, saying I’m going to bring this thing back, he’s lying to himself; he is lying internally, he’s lying eternally, he’s lying to Nigerians.”   The APC campaign council DG also questioned the amount previously spent on petrol subsidy and the lack of clarity over Nigeria’s actual daily fuel consumption.   “This is about N20 trillion deal for a year, going to where we don’t know. Nobody can tell you, no one can tell you exactly how much litres we need, what are the quantities per day,” he said.     Yari said that as chairman of the Nigeria Governors’ Forum, governors repeatedly challenged the Nigerian National Petroleum Company (NNPC) to provide accurate consumption figures.   “As chairman governors forum, we challenged NNPC for four years to tell us the exact consumption,” he said.   “They will propagate the numbers and say it, and we are paying the numbers. When at the end of the day, we push harder, they said no, ‘we are doing subsidy for West Africa.’”   Yari said the APC would base its 2027 campaign on the administration’s achievements and plans rather than attacking political opponents.   “We are on the right path. By God’s grace, we have the data. This is what we are going to do in our campaign — facts and figures,” he said.   “What we have done, what we achieved, and what we intend to do in the future. We don’t call any names. Names are not important to us, but rather what we’re going to do for Nigerians and what we’ve been doing for the past three and a half years.     “Bola Ahmed Tinubu is doing his best, and we believe he’s the right man for this job again.”  

Nigeria’s worsening cost-of-living crisis has turned petrol subsidy into one of the most politically sensitive issues ahead of the 2027 presidential election. The debate was reignited by former Vice President Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), who has promised to restore petrol subsidy if elected president on January 16, 2027. […] The post Fuel subsidy debate: Between economic reform and political expediency, By Ehi Braimah appeared first on Premium Times Nigeria.

Atiku Abubakar explains his plan to restore fuel subsidy if elected president in 2027, citing economic hardship and unaccounted funds from its removal. Read More: https://punchng.com/why-i-want-to-restore-fuel-subsidy-atiku/

Atiku Abubakar, the 2027 presidential candidate of the ADC, has made two fresh campaign promises amid the controversial vow to return Nigeria to fuel subsidy era.

The Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has renewed his promise to restore petrol subsidy if elected president in 2027, reopening a fresh national debate over the controversial policy. Recall that Atiku, who campaigned for the removal of fuel subsidy during the 2023 presidential election, last week said he would restore […] 2027: Experts present divergent views on Atiku’s plan to restore fuel subsidy

 Otega Ogra, senior special assistant to the president on digital and new media, says the subsidy plan of Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), will cost the country N19.1 trillion annually.   Ogra spoke when he appeared on a TVC News programme on Tuesday.   On August 25, Paul Ibe, Atiku’s spokesperson, suggested that an Atiku administration would reintroduce petrol subsidy for a period before eventually phasing it out.   Later that day, Atiku clarified that his proposed restoration of petrol subsidy will not have a predetermined withdrawal date.     He also said his plan on petrol subsidy remains unchanged and he will not hesitate to restore it if elected president.   Commenting on Atiku’s position, Ogra said the former vice-president’s subsidy plan would put Nigerians’ money in the hands of billionaires.   “So for Alhaji Atiku, my question to you here is, where are the barrels for your subsidy going to come from? Where is the money that you’re going to give to your billionaire friends using your own plan?” Ogra said.     “I’ve not even mentioned before, your plan for subsidies, Alhaji Atiku Abubakar, it will cost Nigeria N19.1 trillion, according to estimates.   “You failed to put the estimates in your plan, you failed to put the cap in your plan, you failed to put how many barrels of oil Nigeria is going to need in your plan.”   The presidential spokesperson said at $80 per barrel of crude oil, Nigeria would need to subsidise it by about $40.   “So calculate that. It comes to about N19.1 trillion per year, N52.3 billion daily, N1.5 trillion monthly. And for every time you breathe or before you even complete a breath, it’s going to cost you N605,000 per Nigerian,” he said.     “The amount of money, N19.1 trillion, at the amount that was shared in FAAC for July, that would pay the entire N70,000 minimum wage for a year for 22 million Nigerians.”   OGRA: NIGERIA NO LONGER SPENDING MONEY IT DOESN’T HAVE   Ogra said the most important thing the administration has done is to ensure that Nigerians no longer pretend that the country is spending money it does not have.   “Before Mr. President came in in 2023 and undertook his reforms, we all know what was happening in the economy: rent-seeking,” he said     “A few Nigerians were taking all the commonwealth of Nigerians, using various fraudulent schemes like the FX arbitrage that was there, the rent-seeking on the subsidy programs.”   Ogra added that Atiku’s position that he would reintroduce subsidy “was a very ignorant take and shows a lack of knowledge”.     He said it was “an uneducated take” on the economy and how it should run.   “It’s very interesting that Frank Shuaibu, the spokesperson to Mr. Atiku, also said before that Alhaji Atiku thinks before he acts or before he takes a decision. That plan to introduce the subsidies has impoverished Nigerians for over six decades,” Ogra said.     “That plan falls flat on its face. It does not show that the presidential candidates of the ADC actually thought through the plan before they did anything. And we have seen the results of his thinking before.”   On August 19, Taiwo Oyedele, minister of finance and coordinating minister of the economy, said petrol subsidy savings mobilised N15.8 trillion in resources for the federation between June 2023 and December 2025.

 Former Vice-President Atiku Abubakar has clarified that his proposed restoration of petrol subsidy will not have a predetermined withdrawal date.   He also said subsidy will no longer be necessary when “the market becomes capable of delivering affordable prices without government support”.   Atiku, presidential candidate of the African Democratic Congress (ADC), made the clarification in a statement issued on Monday by Phrank Shaibu, his senior special assistant on public communication.   The statement followed comments by Paul Ibe, Atiku’s spokesperson, suggesting that an Atiku administration would reintroduce petrol subsidy for a period before eventually phasing it out.     Speaking on AIT, Ibe said the temporary intervention would give Nigerians and businesses room to recover, stimulate economic activity and improve productivity.   Shaibu described Ibe’s comments as an unauthorised and misleading characterisation of Atiku’s policy position.   He said policy belonged to Atiku as the candidate and that aides were responsible for explaining his position accurately rather than creating formulations that could confuse the public.     “Atiku has never proposed restoring the import-subsidy regime and subsequently removing it on some predetermined date. That is not his policy and should not be attributed to him,” the statement reads.   According to Shaibu, Atiku is proposing a targeted, capped, transparently budgeted and independently audited intervention to support domestic refining and production.   He said the plan would have measurable conditions for eventual withdrawal from the outset, rather than an arbitrary date for ending the intervention.   “There is no arbitrary withdrawal date. As domestic refining expands, supply stabilises, competition deepens, and the market becomes capable of delivering affordable prices without government support, the intervention progressively becomes unnecessary,” he said.     “You do not remove scaffolding because the calendar says so. You remove it when the building can stand securely on its own.”   ‘CUT COSTS, RESTORE PURCHASING POWER’   Shaibu said the focus of Atiku’s proposal should be on reducing the cost of living rather than arguments over whether the policy should be described as subsidy.   He said the proposed intervention would seek to reduce production and transportation costs, strengthen domestic refining and restore consumers’ purchasing power.     “The real question is simple: Why has everything become so expensive, and what will Atiku do to make life affordable again?” he said.   “Tinubu transferred the shock of his reforms to Nigerian families. Atiku will reduce production and transportation costs, strengthen domestic refining, and restore purchasing power.”     He said the choice before Nigerians was not simply between removing and restoring subsidy, but between maintaining high costs and creating an economy where goods and services become more affordable.

Gbenga Olawepo-Hashim, the 2027 presidential candidate of the Accord Party, has disclosed how he will sell petrol at ₦605/ltr if elected in next year's election.

The Presidency has again taken a swipe at former Vice President and presidential candidate of African Democratic Congress, ADC, Alhaji Atiku Abubakar, over his alleged flip-flops on petrol subsidy, accusing him of political posturing. The post Fuel subsidy: Atiku’s third U-turn exposes political posturing — PRESIDENCY appeared first on Vanguard News.

Thanks to ADC presidential candidate Atiku Abubakar, who is now promising to restore the fuel subsidies that the Bola Tinubu administration removed in 2023, the matter will be a major campaign issue. As expected, the APC crowd quickly reminded Atiku that removing the fuel subsidies was his campaign promise during the 2023 electioneering; going back Read More: https://punchng.com/to-subsidy-or-not-to-subsidy/

Atiku, who has sought Nigeria’s presidency in six election cycles since 1993, had previously supported petrol subsidy removal during some of his campaigns. The post Fuel Subsidy: Presidency tackles Atiku again, wants clarity on ex-VP’s stance appeared first on Premium Times Nigeria.

Former Delta State Commissioner for Oil and Gas Producing Areas, Sir Kenny Okolugbo, has slammed the presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, over the latter’s promise to restore fuel subsidy if elected president in 2027. DAILY POST reports that Atiku’s position on the subsidy had sparked widespread debate, with members of […]  You can’t return fuel subsidy, no pathway for you in 2027 – Okolugbo blasts Atiku

— Accuses ex-VP of lacking understanding of his proposed policy By Johnbosco Agbakwuru ABUJA — The Presidency has criticised former Vice-President and African Democratic Congress (ADC) presidential candidate, Alhaji Atiku Abubakar, over his position on petrol subsidy, accusing him of political posturing and policy inconsistency. The Presidency said Atiku was “suffering from a lack of […] The post Atiku’s fuel subsidy position shows policy flip-flops — Presidency appeared first on Vanguard News.

Presidential spokesman Bayo Onanuga challenges Atiku Abubakar over contradictory subsidy positions, raising critical economic questions ahead of the 2027 elections.

Sunday Dare, Special Adviser to President Bola Tinubu on Media and Public Communication, has criticised former Vice President Atiku Abubakar’s plan to reintroduce fuel subsidy if elected president in 2027.Reacting in a post on X, Dare argued that Atiku’s proposal to sell crude oil to local refineries at discounted prices would undermine government revenue, distort the domestic market, and encourage cross-border fuel smuggling.He described the plan as “an economic safari,” warning that preferential crude allocations would create “an immediate fiscal hole” in the Federation Account, reducing funds available for schools, hospitals, and security. Dare further noted that such a system could destabilise smaller indigenous modular refineries and violate the deregulation principles of the Petroleum Industry Act.Atiku, however, has insisted that Nigeria is wealthy enough to subsidise fuel for its citizens, disowning earlier comments by his aide, Paul Ibe, who suggested a phased approach. Atiku reiterated: “When I said I would return to subsidy, I will! Nigeria is rich enough to look after the welfare of its citizens.”Ibe had explained that the subsidy would involve selling crude at discounted rates to local refiners, enabling them to produce fuel at lower costs and sell at affordable pump prices.The debate reignites controversy over Tinubu’s removal of petrol subsidy in May 2023, a policy his administration has defended as necessary to stabilise public finances, while critics argue it has worsened living costs for Nigerians.

Presidency has disclosed the three major dangers in the explanation of ADC 2027 presidential candidate, Atiku Abubakar, on plan to return fuel subsidy if he wins.

Former Vice-President Atiku Abubakar says his plan on petrol subsidy remains unchanged and he will not hesitate to restore it if elected president.   The African Democratic Congress (ADC) presidential candidate spoke on Tuesday when he received the Osun state leadership of the ADC in Abuja.   On Monday, Paul Ibe, one of Atiku’s media aides, had said though the former vice-president would restore petrol subsidy if elected but would phase it out later.   Speaking during a programme on AIT, Ibe said the temporary intervention would give Nigerians and businesses room to recover, stimulate economic activity and improve productivity.   ‘HE WAS NOT SPEAKING ON MY AUTHORITY’   Atiku, however, distanced himself from Ibe’s remark, saying he did not speak on his authority. “This afternoon or this evening, so many Nigerians have been calling me to say that, you know, one of my press aides had contradicted me in my policy statement as far as subsidy is concerned,” Atiku said. “I want to repeat categorically that what I said, I will return subsidy, I will. And I shall. Nigeria is rich enough to look after the welfare of its citizens.   “Therefore, let it be clearly stated that he was not speaking on my own authority because the removal of subsidy has driven more Nigerians into poverty than at any other time in the history of this country.”     He argued that the fundamental responsibility of the government is the welfare of the citizens, saying his second cardinal agenda is to secure the country.   “I will make sure we secure this country. We are competing with thieves. They stole the election. Now they have stolen the economy. They have stolen everything,” Atiku said.   The former vice-president said his position on subsidy “has not changed and will not change”. Atiku said restoring subsidy would help put purchasing power back in the hands of Nigerians, adding that he would not restore what he described as the “import racket”.   “I will restore targeted subsidy and put purchasing power back in the hands of Nigerians,” Atiku said.   “When fuel rises, transport rises. When transport rises, food rises. When food rises, families suffer. I will break that wretched chain that has defined our national life in the nearly four years of Tinubu’s presidency.   “I will support Nigerian production, reduce energy costs and restore purchasing power. I will not restore the import racket; I will restore relief.”   Atiku said his administration would also focus on improving the value of the naira, making daily living more affordable and securing Nigerians.   “I will make the naira in your pocket worth more, make daily living affordable again, and secure our people. Economic security. Physical security. A better life for every Nigerian,” he said.

Atiku Abubakar disowned his aide's fuel subsidy remarks, asserting a commitment to restore it if elected in 2027, citing rising costs under Tinubu’s administration.

African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has promised to strengthen the naira and improve the living condition of Nigerians if he becomes president in 2027. Atiku made the remark while insisting that his stance on bringing back the fuel subsidy remained unchanged. He pledged to restore targeted subsidies and put purchasing power back […] ‘I’ll make naira stronger’ – Atiku insists on restoring fuel subsidy

Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has disowned comments by one of his media aides, Paul Ibe, on fuel subsidy, insisting that his position on the matter remains unchanged. Atiku said he would restore subsidy if elected president in 2027, stressing that Nigeria was wealthy enough to […] The post Subsidy Removal: Atiku disowns aide, says ‘my position has not changed’ appeared first on Vanguard News.

Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has reiterated his commitment to restoring fuel subsidy if elected president in 2027. Atiku said his position on subsidy removal had not changed, arguing that Nigeria, given its resources, should not abandon citizens to economic hardship. He stated this in a […] The post Subsidy removal: My position has not changed – Atiku appeared first on Vanguard News.

Atiku Abubakar reaffirms his commitment to restoring targeted fuel subsidy if elected president, disowning an aide’s contradictory statement. Read More: https://punchng.com/atiku-disowns-aide-insists-i-will-restore-subsidy/

"On the question of subsidy, my position has not changed and will not change: I will restore it!" The post 2027: I will bring back petrol subsidy, Atiku insists appeared first on Premium Times Nigeria.

"On the question of subsidy, my position has not changed and will not change: I will restore it!" The post UPDATED: 2027: I will bring back petrol subsidy, Atiku insists appeared first on Premium Times Nigeria.

Atiku Abubakar’s spokesman, Paul Ibe, says the former VP will restore petrol subsidy if elected president in 2027, then gradually phase it out. Read More: https://punchng.com/atikull-restore-petrol-subsidy-phase-it-out-later-spokesman/

 Paul Ibe, spokesperson for Atiku Abubakar, says the former vice-president would restore petrol subsidy if elected president in 2027 and phase it out later.   Speaking on AIT, Ibe said the temporary intervention would give Nigerians and businesses room to recover, stimulate economic activity and improve productivity.   He said the proposal would not revive the old subsidy regime but would instead tie government support to crude oil production and domestic refining.   “We are not returning to Egypt. We are not going back to the old regime that was opaque,” Ibe said.     “What he’s simply saying is that the subsidy that he is advocating will be tied to the barrel, the crude oil barrel.   “This is perhaps the only thing that we have in so much abundance that Nigerians have not yet benefited from.”   According to him, crude oil would be supplied to local refiners at a discounted price to enable them produce petrol and diesel at lower costs.     He said the cheaper production cost would ultimately translate into lower pump prices for consumers.   “The crude oil will be sold at a discounted price, subsidised to refiners, and that will enable refiners to be able to produce fuel and diesel at a cheap cost. And when they produce cheaply, they will sell at the real pump price,” he said.   Ibe said an independent committee would determine the appropriate price at the refinery, taking prevailing market conditions into consideration.   He added that although the downstream petroleum sector had been deregulated, government could still monitor prices to ensure that refiners and marketers operated within the framework of the policy.     “There’ll be a window because, of course, we deregulated. You may not fix the price but you can have price monitoring to ensure that everybody aligns with what government hopes to achieve,” he said.   ‘IT WILL BE FOR A PERIOD’ Ibe said the proposed intervention would be implemented for a limited period to stimulate economic activity and improve productivity.   “Yes, if you recall, his argument, even in 2023, was that they’re going to have recourse to having a phased removal,” he said.     He criticised the Tinubu administration for removing petrol subsidy alongside other major economic reforms without allowing the economy to adjust.   “No surgeon, no doctor would carry out two or more serious major surgeries, one after the other. They would do one, allow the patient to recuperate, and then undertake the second, or the third,” Ibe said.     “But what has this administration done? The issue of subsidy, flippant. No cabinet. No advisers. Just in the heat of the moment, it has been removed. No shock absorbers. Nothing. No palliatives. Absolutely nothing.”   He said the simultaneous removal of petrol subsidy, deregulation of foreign exchange and electricity subsidy had compounded the economic difficulties facing Nigerians.     Ibe said the proposed intervention was necessary to give Nigerians and businesses room to recover and increase productivity.   “You need to give Nigerians and give manufacturers an opportunity to ensure that there is productivity,” he said.     “There is little or no productivity in this economy because, I mean, you talk about paying salary, that’s what they are doing there. There is no creativity. They’re simply having plenty of naira as a result of the devaluation.”   He said Atiku’s economic plan would also focus on diversifying the economy beyond dependence on crude oil.   “We also need to start thinking about an economy that is beyond the oil economy. We need to diversify our economy,” Ibe said.   Ibe’s comments come amid an ongoing dispute between Atiku and President Bola Tinubu over the former vice-president’s proposal to restore petrol subsidy.   Tinubu had described Atiku’s proposal as evidence of “serious ignorance on governance and economy”.   Atiku subsequently rejected the criticism, saying his proposal was not a return to the old subsidy regime but a targeted, capped, budgeted and independently audited intervention designed to support domestic production.

At the centre of the clarification is a distinction Atiku's camp is keen to draw between his proposal and the import-subsidy system Nigeria abandoned in 2023. The post Atiku: I’ll restore subsidy to cut your costs, not to feed Tinubu and friends appeared first on Vanguard News.

Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has clarified his position on his proposal to restore fuel subsidy if elected in 2027. In a statement by his media team on Tuesday, Atiku said his proposal was aimed at reducing the cost of living for ordinary Nigerians. Recall that […] 2027: Atiku clarifies fuel subsidy position after aide’s ‘restore, remove later’ comment

Atiku Abubakar, ex-vice president and ADC 2027 presidential candidate, has made a fresh update on plan to return Nigeria to the fuel subsidy era if he wins in 2027.

According to Ibe, Atiku does not intend to return to the subsidy arrangement of the past. Rather, the proposal would involve using Nigeria’s crude oil resources to support domestic refining and reduce the cost of petroleum products. The post 2027: Atiku to restore petrol subsidy, phase it out gradually — Paul Ibe appeared first on Vanguard News.

 Arise Television’s Political News Editor, Sumner Sambo, has called on the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, to explain to Nigerians what going back to fuel subsidy entails.Sambo made the call on Monday when he featured in Arise Television’s ‘Morning Show’.His call stemmed from Atiku’s pledge to reinstate the fuel subsidy regime if he is elected President of Nigeria in the forthcoming 2027 general elections.Atiku had argued that the removal of the fuel subsidy by the administration of President Bola Tinubu has not yielded any benefit for Nigeria.The former Vice President’s comment has been greeted with many reactions, with the ruling All Progressives Congress, APC, slamming him for making such a statement.Also, the Minister of the Federal Capital Territory, FCT, Nyesom Wike, criticised Atiku, describing him as confused and accusing him of inconsistency on the subsidy issue.Reacting, Sambo said, “Atiku needs to explain to Nigerians what returning to fuel subsidy entails. if the African Democratic Congress, ADC, is bringing this as a campaign strategy to actually take power.“Nonetheless, it needs to convince more Nigerians on how it needs to go about this. Because, for example, in the Tinubu administration, we have seen that this fuel subsidy savings and removal has favoured the elites more than the ordinary people.“And the counter punch from Atiku’s team is that look, you have been providing incentives to investors from the upstream and all of that, but nonetheless Nigerians are suffering.”

Arise Television’s Political News Editor, Sumner Sambo, has called on the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, to explain to Nigerians what going back to fuel subsidy entails. Sambo made the call on Monday when he featured in Arise Television’s ‘Morning Show’. His call stemmed from Atiku’s pledge to reinstate the fuel subsidy regime if […] Atiku must explain what returning to fuel subsidy entails — Sambo

ABUJA — Kenneth Okonkwo, spokesperson for the 2027 presidential campaign of former Vice-President Atiku Abubakar, has dismissed criticism of Atiku’s plan to restore petrol subsidy if elected, saying the proposal is aimed at reducing fuel prices and has nothing to do with the subsidy regime of the past. Okonkwo, who spoke on Channels Television’s Sunday […] The post Atiku’s subsidy proposal designed to make petrol affordable — Okonkwo appeared first on Vanguard News.

Former Vice President Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), has said the Federal Government cannot claim to have fully ended fuel subsidy while continuing to cover petrol price shortfalls under different labels.In a statement issued in Abuja on Sunday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said no amount of opposition from President Bola Tinubu would prevent him from introducing a targeted fuel subsidy if elected. He stressed that his proposal differs from the previous subsidy regime.“The government’s own spending records contradict its claim that fuel subsidy has been completely removed,” Atiku said. He pointed to the NNPC’s audited financial statements for 2023 and 2024, which showed the government still absorbing petrol price shortfalls, listed as energy-security expenses.Changing the name of the expenditure does not alter its impact on public finances, he argued. “Nigerians do not eat semantics. Whether government calls it subsidy, under-recovery, shortfall or energy security, public resources were being used to bridge a gap between economic cost and the price at which petrol was sold.”Atiku also accused the government of applying different standards to ordinary citizens and large oil investors. He noted existing tax credits and incentives for petroleum operators, saying the administration supports corporate interests while expecting Nigerians to bear the full weight of economic reforms.“The government can protect a multibillion-dollar oil investment from risk, yet it says protecting the Nigerian worker from crushing hardship is bad economics,” he stated.He maintained that his planned subsidy would not revive what he described as the “opaque and corruption-ridden” system of the past. Instead, it would be targeted, capped, transparently budgeted, independently audited and time-bound, with a clear exit strategy. The plan would also include measures to increase domestic refining capacity, improve public transportation and restore household purchasing power.   

The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has revealed that no amount of opposition from President Bola Tinubu would stop him from restoring a targeted fuel subsidy if elected. He insisted that his proposal is different from the old subsidy system. Atiku made the remark in a statement issued in Abuja […] Tinubu govt can’t claim to have ended subsidy while funding fuel shortfalls – Atiku

Former Kaduna Central senator, Shehu Sani, has said the promise by the African Democratic Congress, ADC, candidate, Atiku Abubakar, to restore fuel subsidy is a “political Trojan horse” aimed at winning the 2027 presidential election. Recounting that Atiku had supported the removal of fuel subsidy in the past, Sani said the ADC presidential candidate’s pledge […] ‘Atiku restoring fuel subsidy outright deception meant to win election’ – Shehu Sani

 Felix Morka, spokesperson of the All Progressives Congress (APC), has described Atiku Abubakar’s promise to restore petrol subsidy if elected president in 2027 as “desperation of the most pitiful kind”.   Speaking in an interview on Wednesday, Atiku, presidential candidate of the African Democratic Congress (ADC), said the money saved from subsidy removal had not been judiciously expended.   “I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said in Hausa.   “If elected, I will bring back the oil subsidy, and whoever stole the money must refund it.”     Atiku said the removal of petrol subsidy could have been justified if the savings had been channelled into development projects, as well as security, education and opportunities for young Nigerians.   ‘ATIKU IGNORING TINUBU’S ECONOMIC REFORMS’   Reacting, Morka accused the former vice-president of reversing his position for political reasons ahead of the 2027 election.     “Former Vice President Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), has backflipped from his 2023 policy support for fuel subsidy removal to a promise to restore fuel subsidy if elected president in 2027,” he wrote on X.   “This is desperation of the most pitiful kind — an admission he is clueless and out of touch with Nigeria’s economic realities and imperatives of reform.”   The APC spokesperson accused Atiku of deliberately ignoring what he described as the transformative progress recorded under President Bola Tinubu.   Morka said the subsidy proposal showed that Atiku was “grossly bereft of ideas of alternative economic policy prescription”.     He described the proposal as “a last-ditch grasping at straws of misplaced populism”, which he said could ultimately contribute to another defeat for Atiku in 2027.   Morka said Atiku’s position amounted to “willful blindness to transformative progress recorded by the Tinubu administration”.   He added that Atiku’s proposal represented a reversal of economic reforms rather than a credible alternative policy for addressing Nigeria’s economic challenges.   Tinubu announced the removal of petrol subsidy in his inaugural address on May 29, 2023, triggering a subsequent increase in the cost of living as the prices of goods and services rose across the country.     Several states, however, recorded increased monthly allocations from the Federation Account Allocation Committee (FAAC) following the subsidy removal.

A chieftain of the All Progressives Congress (APC), Alhaji Faizu Alfindiki, has questioned former Vice-President Atiku Abubakar’s decision to promise the restoration of petrol subsidy if elected president in 2027. Alfindiki said Atiku’s current position was at odds with his stance during the 2023 presidential election, when he reportedly advocated the removal of the subsidy […] 2027: You wanted subsidy removed in 2023, now you want it back – Alfindiki to Atiku

 Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has said he will not resurrect the old fuel subsidy regime in Nigeria if elected president in the 2027 general election.   He disclosed this in a statement by his media team on Wednesday, explaining how he would cut the price of petrol.   In a recent interview, Atiku had backed the return of fuel subsidy in Nigeria’s petroleum sector.   In a fresh detail on Wednesday, Atiku explained that his administration, if elected, would replace Nigeria’s old import-subsidy architecture with a targeted, capped, transparently budgeted and independently audited production subsidy designed to lower energy costs while accelerating domestic refining.   “My proposal is not to resurrect the old subsidy regime. We will move subsidy from importation to production, from middlemen to Nigerian refineries, and from unverifiable claims to verifiable barrels.   “The principle is simple: the subsidy will follow the barrel,” he stated.   According to him, supplying crude below its market-equivalent value represents a real opportunity cost to the Federation.   “The cost will be known. The ceiling will be known. The beneficiaries will be known. And, most importantly, the benefit delivered to Nigerians will be measurable.   “We will determine what Nigeria can afford before we subsidise. We will not subsidise first and discover the bill afterwards,” he stated.   He noted that his model for fuel subsidy would prevent refinery owners from pocketing the benefit of preferential crude without passing it on to consumers.   “No refinery would receive subsidised crude without a corresponding, independently verified quantity of petroleum products being supplied to the Nigerian market under a transparent pricing formula reflecting the benefit of the preferential crude price.   “Crude allocation, refinery intake, production yields, inventories and domestic deliveries would be reconciled, ensuring that every subsidised barrel can be followed from allocation through refining to the Nigerian consumer.   “No phantom cargoes. No fictitious imports. No unverifiable under-recoveries. No retrospective claims.   “If you receive subsidised Nigerian crude, you must refine it in Nigeria, supply the agreed products to Nigerians and pass the benefit to Nigerians. Otherwise, you do not qualify,” he stated.   Recall that President Bola Ahmed Tinubu removed the fuel subsidy in May 2023, which led to a sharp increase in petrol prices.   The Minister of Finance, Taiwo Oyedele, said on Tuesday that the government had received N15.8 trillion in fuel subsidy savings but spent N30.64 trillion on incremental expenditures from June 2023 to December 2025.

Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to restore Nigeria’s petrol subsidy if he wins the 2027 presidential election. Atiku made the pledge during a Facebook Live session while responding to questions about the subsidy removal and the financial burden it has placed on Nigerians. According […] The post “I’ll Restore Fuel Subsidy, If I Become President In 2027 – ADC Candidate, Atiku Abubakar appeared first on Information Nigeria.

The presidency has described former Vice-President Atiku Abubakar’s proposal to restore petrol subsidy if elected president in 2027 as “retrogressive”, accusing him of making the promise out of desperation for power.   On Wednesday, the African Democratic Congress (ADC) presidential candidate, said he would restore the petrol subsidy if elected president in 2027.   However, Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, said the proposal would return Nigeria to a subsidy regime that was “wasteful, corruption-ridden and financially burdensome”.   In a statement on Thursday, Onanuga said Atiku is entitled to propose alternative policies but argued that Nigerians deserved to know how his proposed subsidy would be funded and implemented under the current petroleum-sector framework.     He said Atiku’s position represented a reversal of his previous stance on petrol subsidy, noting that the former vice-president had advocated the removal of the subsidy before the 2023 presidential election.   “It is not difficult to explain why Atiku has latched onto the abandoned subsidy regime, five months to the election,” Onanuga said.   “Desperate for power, he needed to make a promise that he knew, if he were candid with our people, does not make fiscal sense, is retrogressive, and is against the genuine interest of the people.”   ‘NO N30trn SUBSIDY WINDFALL’   The presidential aide disputed Atiku’s claim that the federal government had failed to account for about N30 trillion in savings and revenues from subsidy removal.   Onanuga said the N30 trillion figure did not represent subsidy savings, describing the former vice-president’s claim of a subsidy windfall as unfounded.   “Contrary to Atiku’s claim in his interview, no N30 trillion subsidy windfall or savings exists anywhere except in his imagination,” he said.   Onanuga said the subsidy regime involved the Nigerian National Petroleum Company Limited (NNPC) absorbing the difference between the cost of petrol and the regulated pump price, resulting in substantial costs to government.   He said the Petroleum Industry Act (PIA) established a framework for ending the subsidy regime by June 2023, adding that Tinubu only accelerated the process by a few weeks after assuming office.   He added that Nigeria’s petroleum sector had changed significantly since the removal of subsidy, particularly with the emergence of substantial domestic refining capacity.   Onanuga cited the Dangote Refinery as a major development that had altered the country’s dependence on imported petrol.   He argued that restoring the old subsidy system could undermine local refining and place smaller domestic refineries under financial pressure.   According to him, Nigeria is increasingly moving from reliance on imported refined products towards domestic refining, with potential benefits for energy security, foreign-exchange conservation and job creation.     “The subsidy debate must therefore be grounded in the realities of today’s market rather than treated as though Nigeria’s petroleum sector has remained unchanged,” he said.   ‘WHO WILL PAY FOR SUBSIDY?’ Onanuga challenged Atiku to explain how much his proposed subsidy would cost and where the money would come from.   “If petrol is sold below its economic cost, which is about N1,200 to N1,300, someone must absorb the difference,” he said.   “Ultimately, that cost falls on the public finances—through reduced funds for infrastructure and social services, reduced allocation to states and 774 local councils, increased borrowing, higher public debt, or some combination of these.”   The presidential aide said the government recognised the hardship caused by higher petrol prices but argued that sustainable relief should not involve recreating a fiscal arrangement that previously placed significant pressure on public finances.   He cited the government’s compressed natural gas (CNG) initiative as an alternative aimed at reducing transportation and energy costs.   Onanuga urged Atiku and other political actors to provide clear fiscal and legal details for any proposal to restore petrol subsidy.   “Political promises must be backed by fiscal arithmetic,” he said.   He asked Atiku to explain the annual cost of the proposed programme, its funding source, whether the government would borrow to finance it, and whether amendments to existing petroleum-sector laws would be required.   “Nigeria cannot afford to return to policies whose costs are hidden from citizens until they appear later as debt, reduced government spending on social services, and further pressure on the national currency,” he said.

Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has said he will not resurrect the old fuel subsidy regime in Nigeria if elected president in the 2027 general election. He disclosed this in a statement by his media team on Wednesday, explaining how he would cut the price of […] I’ll not resurrect old fuel subsidy — Atiku tells Nigerians plans to cut petrol price

The Presidency has taken a swipe at the recent comment credited to former Vice President Atiku Abubakar and presidential candidate of the African Democratic Congress, ADC, to the effect that he will restore petrol subsidies if elected President in 2027. The post Subsidy removal: Atiku is a hypocrite, renegade – Presidency appeared first on Vanguard News.

The Presidency has slammed the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, describing his promise to restore fuel subsidy, as “hypocrisy and deceit”. Atiku had, in a recent interview, said he would consider restoring the subsidy removed by President Bola Tinubu if elected President in 2027. Reacting, a presidential spokesperson, Sunday Dare, in a […] Presidency blasts Atiku over promise to restore fuel subsidy

The ADC presidential candidate says the subsidy should be restored, and those who diverted public funds meant for the scheme should be made to account for them. The post Atiku vows to restore petrol subsidy if elected president in 2027 appeared first on Premium Times Nigeria.

ABUJA — Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has said he will reinstate petrol subsidy if elected president in the 2027 general election, arguing that Nigerians have not seen sufficient benefits from its removal. Atiku made the pledge during a Hausa-language interview on Wednesday, where he questioned the Federal Government’s management […] The post 2027: Atiku vows to restore petrol subsidy if elected appeared first on Vanguard News.

The ADC presidential candidate, Atiku Abubakar, has opened up on what he will do about fuel subsidy if elected President in the 2027 general elections.

Former Vice President Atiku Abubakar, now the presidential candidate of the African Democratic Congress (ADC), has pledged to reinstate Nigeria’s fuel subsidy regime if elected in the 2027 general elections.Atiku argued that the removal of the subsidy by President Bola Tinubu in May 2023 has failed to deliver tangible benefits to Nigerians, instead worsening economic hardship. He noted that prices of goods and services skyrocketed following the announcement, leaving families and businesses struggling.Speaking in a social media interview, Atiku said: “I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money? Has it been used to improve healthcare, education or security?”He vowed that, if elected, he would restore the subsidy and ensure accountability: “Anyone who stole Nigeria’s subsidy funds must return the money.”Atiku will face incumbent President Tinubu of the All Progressives Congress and former running mate Peter Obi, who is contesting under the Nigeria Democratic Congress, in what is expected to be a highly competitive 2027 presidential race.

Former Vice President and 2027 presidential candidate of the African Democratic Congress, ADC, Alhaji Atiku Abubakar, has pledged to reinstate the fuel subsidy regime if he is elected president of Nigeria in 2027. Atiku argued that the removal of the fuel subsidy by President Bola Tinubu’s administration has not yielded any benefit for Nigeria. Tinubu […] 2027: I’ll return fuel subsidy if elected President – Atiku