President Bola Tinubu has criticised former Vice President Atiku Abubakar’s proposal to restore petrol subsidy if elected in 2027, describing the plan as a demonstration of serious ignorance of governance and economic realities. Tinubu spoke at the State House in Abuja while receiving Osun State Governor, Ademola Adeleke, following his re-election. The President argued that […]
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President Bola Tinubu has criticised former Vice President Atiku Abubakar’s proposal to restore petrol subsidy if elected in 2027, describing the plan as a demonstration of serious ignorance of governance and economic realities.
Tinubu spoke at the State House in Abuja while receiving Osun State Governor, Ademola Adeleke, following his re-election.
The President argued that before the removal of petrol subsidy, several states struggled to meet basic financial obligations, including the payment of workers’ salaries and pensions, forcing governors to seek financial assistance from the Federal Government.
He maintained that subsidy removal has improved revenues available to the three tiers of government and strengthened the financial position of states.
The Presidency also questioned how Atiku intends to finance a renewed subsidy regime, noting that Nigeria’s petroleum sector has changed significantly with increased domestic refining capacity.
It argued that restoring subsidy could place fresh pressure on public finances, increase borrowing and threaten investments in local refining.
Atiku had proposed a return to a production-based fuel subsidy system if elected President in 2027, a position that differs from his previous support for subsidy removal and the liberalisation of the petroleum sector.
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