Former Vice President Atiku Abubakar has reaffirmed his plan to restore petrol subsidy if elected president in 2027, arguing that government must prioritise the purchasing power and welfare of Nigerians.
Atiku made the clarification after one of his media aides appeared to suggest that the proposed subsidy would eventually be phased out. The presidential candidate said his position remained unchanged and stressed that the policy would focus on supporting domestic production rather than returning to the previous import-driven subsidy regime.
According to Atiku, Nigeria is sufficiently endowed with resources to provide relief for citizens facing rising living costs. He linked petrol prices to transportation and food costs, arguing that reducing energy costs would help ease pressure on households and businesses.
“That is why I will restore targeted subsidy and put purchasing power back in the hands of Nigerians,” he said.
His spokesman, Phrank Shaibu, later explained that the proposal would involve a targeted, capped and transparently funded intervention tied to domestic refining and production.
Under the proposed model, locally produced crude would be supplied to refineries at a discounted rate, allowing refiners to produce petrol and diesel more cheaply. The intervention would gradually be reduced as domestic refining capacity expands, supply stabilises and competition improves.
Atiku’s position has reignited debate over the petrol subsidy, which President Bola Tinubu removed in May 2023. The Federal Government has defended the reform as necessary to strengthen public finances, while critics argue that it has contributed significantly to the cost-of-living crisis.
The opposition candidate maintains that his proposed approach would offer relief without recreating the old system of subsidising imported fuel.
