Former Vice-President Atiku Abubakar has reaffirmed his commitment to restoring fuel subsidy if elected president in 2027, insisting that his position on the controversial policy remains unchanged.
Atiku, the presidential candidate of the African Democratic Congress (ADC), restated his position in a post on social media accompanied by a new video.
“My position stands! I will restore subsidy to make life easier and more affordable for Nigerians,” he declared.
There has been political debate over the removal of petrol subsidy by President Bola Tinubu’s administration and its impact on the cost of living across the country.
Tinubu has repeatedly ruled out any possibility of restoring the subsidy, maintaining that Nigeria cannot afford to return to the policy.
During a state reception at the ARISE Palm Resort in Uyo, Akwa Ibom State, on November 6, the President insisted that the country would never return to the subsidy regime.
“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 Governor Umo Eno and Senate President Godswill Akpabio.
The President had also compared reversing the subsidy removal to asking Moses to return to Egypt, arguing that doing so would expose the country to serious financial difficulties.
Tinubu maintained that removing the subsidy on his first day in office in May 2023 was necessary to prevent Nigeria from heading towards bankruptcy.
He has also defended the policy, arguing that it has helped eliminate fuel smuggling, invoice falsification and other abuses associated with the previous subsidy arrangement while increasing revenue available to federal, state and local governments.
However, Atiku has maintained that restoring the subsidy would provide relief to Nigerians struggling with rising transportation costs, food prices and other economic challenges.
The former Vice-President has clarified that his proposed intervention would not involve a return to the old subsidy arrangement, which he believes was vulnerable to corruption and abuse.
According to his campaign, the proposed approach would involve a targeted and temporary subsidy tied to crude oil supplied to local refineries, allowing them to produce and sell petroleum products at more affordable prices.
The plan would also involve monitoring mechanisms to ensure that the benefits reach consumers, with a gradual withdrawal of the intervention when economic conditions improve.
Atiku recently reiterated the promise during his political engagements in Sokoto and Kebbi States, where he also pledged to address insecurity, reopen Nigeria’s land borders for legitimate trade and create employment opportunities.