By Seun Ibiyemi
Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has reaffirmed his commitment to restoring petrol subsidy if elected president in 2027, saying the proposed intervention will be targeted at domestic refining rather than a return to the former import-driven subsidy regime.
Atiku made the clarification on Tuesday while receiving the Osun State leadership of the ADC in Abuja, following comments by his media aide, Paul Ibe, on the proposed subsidy policy.
The former vice-president said his position on subsidy remained unchanged, stressing that any contrary statement from his spokesperson did not represent his official position.
“On the question of subsidy, my position has not changed and will not change: I will restore it,” Atiku said.
He argued that Nigeria was sufficiently endowed with resources to cushion the economic burden on citizens, particularly amid rising transportation, food and household costs.
According to him, his proposed policy would focus on restoring purchasing power and reducing the cost of production and transportation.
“I want wages to have value again. I want farmers to move produce without transport swallowing their profits. I want families to fill their baskets without emptying their pockets,” he said.
Atiku said his administration would support Nigerian production, reduce energy costs and introduce a targeted subsidy aimed at easing the impact of high fuel prices on households and businesses.
No Return to Import Subsidy Regime
The ADC candidate, however, sought to distinguish his proposal from the former petrol subsidy system, which largely involved government payments associated with imported petroleum products.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku’s camp said the proposed intervention would be capped, transparently budgeted and independently audited, with support directed toward domestic refining and production.
“For the avoidance of doubt, policy belongs to the candidate, not the spokesperson,” Shaibu said.
He explained that the intervention would be progressively withdrawn as domestic refining capacity expands, fuel supply becomes more stable and competition improves.
“There is no arbitrary withdrawal date. As domestic refining expands, supply stabilises, competition deepens, and the market becomes capable of delivering affordable prices without government support, the intervention progressively becomes unnecessary,” he said.
Shaibu compared the proposed subsidy to temporary scaffolding used during construction, saying it would remain only until the domestic petroleum market could operate effectively without government support.
Crude Supply to Local Refiners
Ibe, who had earlier spoken on the issue during an interview with AIT, explained that the proposed intervention would be linked to Nigeria’s crude oil production and domestic refining capacity.
He said government could supply crude to local refiners at discounted rates, allowing them to produce petrol and diesel at lower costs.
“The crude oil will be sold at a discounted price, subsidised to refiners, and that will enable refiners to be able to produce fuel and diesel at a cheap cost,” Ibe said.
He added that an independent committee could determine the appropriate crude price for local refiners based on prevailing market conditions.
According to him, although the downstream petroleum sector has been deregulated, government could still monitor prices to ensure that refiners and marketers operate within the agreed framework.
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Ibe described the proposed intervention as temporary, saying its objective would be to stimulate economic activity, improve productivity and provide relief to Nigerians.
Atiku Faults Tinubu’s Subsidy Removal
The ADC candidate also criticised President Bola Tinubu’s decision to remove the petrol subsidy shortly after assuming office in May 2023.
Atiku argued that the removal of subsidy, alongside foreign exchange reforms and electricity subsidy changes, had increased pressure on households and businesses.
He said his administration would seek to break what he described as the chain linking higher fuel prices to increased transportation costs, food prices and declining household purchasing power.
“Tinubu transferred the shock of his reforms to Nigerian families. Atiku will reduce production and transportation costs, strengthen domestic refining, and restore purchasing power,” Shaibu said.
Atiku’s renewed position places petrol subsidy at the centre of the emerging economic debate ahead of the 2027 presidential election, with the ADC candidate presenting targeted support for domestic refining as an alternative to the existing fully market-driven pricing model.
