Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has put petrol subsidy back at the centre of the 2027 presidential contest, promising to restore the policy if elected.
Atiku made the pledge during a Facebook Live session while responding to questions on the impact of the subsidy removal on Nigerians and how the savings from the policy had been used.
The former vice president said his position had changed since President Bola Tinubu announced the removal of petrol subsidy in May 2023.
According to Atiku, he did not initially oppose the decision but is now questioning whether Nigerians have seen the benefits of the funds the government said would be saved.
“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money? Where has the subsidy money gone? Has it been used to improve healthcare, education or security?” he asked.
He added, “If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money.”
Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023, a decision that immediately pushed up petrol prices and contributed to higher transportation and living costs.
The President has consistently defended the policy, arguing that the subsidy had become too expensive and that the resources could be redirected to infrastructure, healthcare, education, transportation and other public services.
In a July 2023 national broadcast, Tinubu said the subsidy had cost Nigeria trillions of naira annually and created opportunities for corruption.
“For several years, I have consistently maintained the position that the fuel subsidy had to go,” he said.
Atiku, FG clash over subsidy savings
The controversy over whether the subsidy truly ended has also featured prominently in the political exchanges between Atiku and the Tinubu administration.
In June 2024, Atiku accused the Federal Government of continuing to fund petrol consumption despite its declaration that the subsidy regime had ended.
He raised the allegation following reports that government expenditure associated with petrol subsidy could reach N5.4 trillion that year and demanded an explanation of where the savings from the policy had gone.
“Paying subsidies and lying about it is nothing to brag about. Nigerians deserve better than this deception,” Atiku said.
The Presidency rejected the allegation, with then Special Adviser to the President on Information and Strategy, Bayo Onanuga, insisting that the government had not provided N5.4 trillion for petrol subsidy in the 2024 budget.
“The fuel subsidy regime has ended. There is no N5.4 trillion being provisioned for it in 2024,” Onanuga said.
Tinubu again ruled out reversing the policy during the August 2024 nationwide protests over economic hardship, describing the decision as painful but necessary to address Nigeria’s long-standing economic problems.
The President had earlier acknowledged the hardship created by the reform, telling Nigerians on Democracy Day in June 2023, “I feel your pain.”
Atiku has nevertheless maintained that subsidy reform should be accompanied by stronger transparency, accountability and measures to protect vulnerable Nigerians.
His latest promise to restore the subsidy introduces a clear policy alternative to Tinubu’s position as political parties and presidential hopefuls begin shaping their economic messages ahead of the 2027 election.
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