Atiku Abubakar Advocates for Production-Based Fuel Subsidy

Former Vice President Atiku Abubakar expressed support for Dangote Refinery's warning regarding government-imposed petrol prices, stating it validates his proposal for a production-based fuel subsidy. Atiku clarified that his proposal aims to lower crude feedstock costs for qualifying Nigerian refineries rather than forcing them to sell fuel at a loss.

He criticized the government's approach, which he believes has turned into a campaign of fear, and emphasized that his model would support domestic refining rather than imports. Atiku outlined that the proposed subsidy would include capped support levels, independent verification, electronic tracking, domestic supply obligations, and regular audits.

He rejected the notion that protecting consumers from high fuel prices must harm refinery profitability, asserting that a competent government can safeguard both interests. Atiku's policy aims to boost domestic refining, attract investment, create jobs, and make fuel more affordable for Nigerians.