Amaechi Promises Fair Fuel Subsidy Plan for 2027 Election

Rotimi Amaechi, the vice-presidential candidate for the African Democratic Congress (ADC), assured Nigerians that the party's proposed return of fuel subsidy would not enrich a select few wealthy individuals. Speaking at a town hall meeting in Edo State, Amaechi explained that the subsidy would specifically target owners of refineries and modular refineries in Nigeria.

He stated that if Atiku Abubakar, the ADC presidential candidate, is elected in 2027, he would implement a production-based subsidy. Amaechi detailed that the pricing of crude oil would differ between the international and domestic markets, indicating that the government would not directly pay for the subsidy.

Instead, he proposed a system where the government would set a domestic price lower than the international price, allowing refinery owners like Dangote to provide a subsidy to reduce fuel prices. This approach aims to lower fuel costs and subsequently reduce the prices of other goods.