Former Vice President and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has said that targeted support for domestic production is necessary to ease the current cost-of-living pressures on Nigerians.
Reacting on Sunday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said economic indicators announced by the government must be matched with improvements in the daily realities of citizens, including the prices of fuel, food and transportation.
Atiku noted that the Crude Oil Refinery Owners Association of Nigeria (CORAN) has called for support for domestic refining, while policies in other countries, including recent energy measures in the United States under President Donald Trump, have focused on strengthening local petroleum production and refining capacity.
“Tinubu’s policies removed the fuel subsidy, and since then Nigerians have experienced higher costs for fuel, transport and food. Now that there is a proposal to provide targeted support to production, it is important that we look at models that work and apply them here,” Atiku said.
He cited examples of rising input costs affecting households and businesses, noting that increases in the prices of fertiliser, petrol, cement and foreign exchange have put pressure on family budgets and business operations.
“A woman selling frozen food in Kubwa, for instance, now pays more for transportation, more to power her freezer, and more to restock. Her customers also have less to spend, which affects sales and the entire supply chain,” he stated.
Atiku said his proposed “Production Subsidy” is designed to support what Nigeria produces and refines locally, increase supply, and ensure that the benefit reflects in lower prices for consumers.
“CORAN is asking for support for domestic production. The United States is also investing in strategic energy production. The question is: why should similar support for Nigerian producers and consumers be treated differently?” he asked.
He argued that government already provides waivers, incentives and concessions to large companies, including oil majors, and that a similar approach can be applied to support local refining and reduce the burden on households.
“What Nigerians need now is not just statistics, but relief in their daily expenses. We must support production, refine more in Nigeria, create jobs, and lower the cost of living,” Atiku said.
He added that the choice before the country is between continuing with policies that increase costs for citizens, or adopting measures that restore purchasing power.
“Nigeria must produce more, so that Nigerians can pay less. Families should have more money left to meet their needs,” he added.