APC, Presidency, and FCT Minister Criticize Atiku's Pledge to Restore Fuel Subsidy

Former Vice President Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has pledged to restore the petrol subsidy if elected president in 2027. During a Facebook Live session, Atiku questioned how the government has utilized the savings from the subsidy removal and stated that anyone who stole subsidy funds must return the money. He noted that while he did not initially oppose the removal of the subsidy, he now intends to reverse the policy.

The All Progressives Congress (APC) and the presidency have responded by accusing Atiku of desperation and political opportunism. APC National Publicity Secretary Felix Morka and Presidential Special Adviser Bayo Onanuga both stated that Atiku had previously supported the removal of the subsidy ahead of the 2023 election. Mr. Onanuga described the proposal as retrogressive and argued that the subsidy regime was wasteful and corruption ridden. He further challenged Atiku to explain how the subsidy would be funded given the current petroleum sector framework and the emergence of domestic refining capacity, such as the Dangote Refinery.

Additionally, the presidency disputed Atiku's claim regarding a 30 trillion naira windfall from the subsidy removal. Mr. Onanuga argued that the subsidy was not a sum of money sitting in government coffers but rather a system where the government absorbed the difference between the regulated pump price and the actual cost of supply. He noted that the Petroleum Industry Act had already provided for the end of the subsidy regime by June 2023.

Minister of the Federal Capital Territory Nyesom Wike also criticized the proposal, calling Atiku a voodoo economist and questioning his consistency. Mr. Wike asserted that Atiku would say anything to win the presidency and claimed that President Bola Tinubu remains the only leading candidate for the 2027 election.