Atiku Abubakar Pledges to Restore Petrol Subsidy if Elected President

Atiku Abubakar, the presidential candidate of the African Democratic Congress, has reaffirmed his commitment to restore the petrol subsidy if he is elected president. Speaking on Tuesday while receiving the Osun State leadership of the ADC in Abuja and in a subsequent post on X, the former vice president stated that his position has not changed and will not change. He argued that Nigeria is rich enough to look after its citizens and that the removal of the subsidy has driven more Nigerians into poverty than at any other time in the history of the country.

Atiku specified that he intends to restore a targeted subsidy to increase purchasing power and reduce the costs of transport and food. He clarified that he would not restore the import racket but would instead focus on supporting Nigerian production and reducing energy costs. During his remarks, Atiku also distanced himself from a media aide, Paul Ibe, who had previously suggested that any restored subsidy would be phased out over time. Atiku stated that Ibe was not speaking on his authority.

President Bola Tinubu removed the petrol subsidy upon taking office in 2023, a move the government defended as a means to eliminate corruption and fund critical infrastructure. However, the policy, combined with the floating of the naira, contributed to a significant cost of living crisis. The ruling party and the presidency have criticized Atiku for this current stance, noting that he had been a proponent of subsidy removal in previous election cycles.