Atiku Vows to Restore Fuel Subsidy Amidst Tinubu's Economic Claims

Former Vice President Atiku Abubakar has boldly stated that no opposition from President Bola Tinubu or his supporters will deter him from reinstating a targeted fuel subsidy for Nigerians. He accuses the current administration of disguising subsidy removal as reform while covertly offering fiscal benefits to oil investors.

In a statement released from Abuja, Atiku, the presidential candidate of the African Democratic Congress (ADC), challenged Tinubu's assertion that the subsidy had been eliminated. He pointed to the Nigerian National Petroleum Company Limited's (NNPC) financial accounts as evidence that contradicted the government’s narrative.

According to Atiku, NNPC reported approximately ₦4.84 trillion in energy-security expenses in 2023 and about ₦7.13 trillion in 2024, indicating that the government continues to absorb price differentials even after claiming that subsidies were abolished.

"Naming it a 'shortfall' doesn’t change the reality," Atiku remarked. "Nigerians care about the money being spent to cover the price gap, not the semantics used to describe it."

He further criticized the government's support for oil investors through tax credits, suggesting a double standard in economic policy that favors corporations over struggling households. 

"The government can shield oil investments from risk, yet claims that helping Nigerian workers is bad economics," he argued. "This is a clear disparity in how economic policies are applied."

Atiku outlined his proposal for a targeted and transparent subsidy plan, distinct from previous regimes, emphasizing accountability and an effective exit strategy. His "Atiku Economic Recovery Plan" aims to address the pressing needs of households while promoting domestic refining and increased competition.

He urged the government to disclose details about existing petroleum tax concessions, questioning the fairness of extending relief to corporations while imposing hardship on citizens.

"A government that advocates unrestrained market forces for the poor while intervening for the rich is practicing economic apartheid," he asserted, calling for a more equitable economic approach.

In conclusion, Atiku’s stance underscores a growing divide in Nigeria's economic discourse, highlighting the need for a balanced approach that protects both investors and ordinary citizens.