ADC Rejects Presidency's ₦19.1trn Claim on Subsidy Plan

The African Democratic Congress (ADC) has criticized the Presidency's assertion that Alhaji Atiku Abubakar's proposed petrol subsidy would cost Nigeria approximately ₦19.1 trillion annually, calling it a “phantom figure” and “arithmetic vandalism.” In a statement released on Monday by the ADC's National Publicity Secretary, Mallam Bolaji Abdullahi, the party contended that the Presidency was misrepresenting Atiku's plan. The ADC stated that the claim was based on unverified assumptions regarding crude oil prices and subsidy differentials.

They emphasized that Atiku's proposal is not a return to the previous import-subsidy model but rather a shift towards domestic production through incentives for local refineries. The ADC challenged the government to account for its own petroleum-related expenditures, which reportedly amount to approximately ₦17.5 trillion, instead of fabricating figures against the opposition.