Former Vice President Atiku Abubakar has defended his proposal to introduce a targeted petrol subsidy, arguing that government intervention should protect Nigerians from rising fuel prices and economic hardship. Atiku accused President Bola Tinubu’s administration of removing support for ordinary citizens while providing tax credits, concessions and other incentives to major investors in the petroleum […]
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Former Vice President Atiku Abubakar has defended his proposal to introduce a targeted petrol subsidy, arguing that government intervention should protect Nigerians from rising fuel prices and economic hardship.
Atiku accused President Bola Tinubu’s administration of removing support for ordinary citizens while providing tax credits, concessions and other incentives to major investors in the petroleum sector.
In a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that public resources are still being used to support the petroleum industry despite the government’s declaration that fuel subsidy has ended.
He cited energy-security expenses reported by the Nigerian National Petroleum Company Limited and questioned why similar interventions could not be used to cushion the impact of high petrol prices on households.
Atiku clarified that his proposal would not restore the previous subsidy system, which he described as vulnerable to corruption and abuse.
Instead, he proposed a targeted and capped intervention that would be transparently budgeted, independently audited and supported by a clear exit plan.
The former vice president said the programme would also include measures to increase domestic refining, improve competition, expand mass transportation and strengthen household purchasing power.
He also called on the Federal Government to disclose beneficiaries and the value of major petroleum tax credits and incentives granted to investors.
However, APC National Chairman Nentawe Yilwatda rejected the proposal, questioning how it would be funded without creating fresh pressure on public finances.
Accord Party presidential candidate Gbenga Olawepo-Hashim also criticised Atiku’s change of position, arguing that the former vice president had previously supported subsidy removal and should explain why his position has changed.
Olawepo-Hashim, however, also supports a targeted and transparent subsidy system aimed at protecting Nigerians and strategic sectors from severe price increases.
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