Atiku Abubakar Reaffirms Commitment to Fuel Subsidy

On Tuesday, Atiku Abubakar, the former Vice President of Nigeria and ADC candidate, stated on his X handle that his position on fuel subsidy remains unchanged, asserting he would restore a targeted subsidy to alleviate economic hardships faced by Nigerians. He argued that a nation's wealth should be measured by citizens' purchasing power rather than government revenue.

Atiku proposed policies aimed at increasing the value of wages, reducing transportation costs for farmers, and making food more affordable. He emphasized the need to break the link between rising fuel prices, transportation costs, and food inflation.

His comments followed remarks by Ibe, who indicated that Atiku's proposed subsidy would be temporary and linked to crude oil production and domestic refining. Ibe explained that crude oil would be supplied to local refiners at a discounted price, enabling cheaper production of petrol and diesel.

An independent committee would determine the crude oil price for refiners, with government monitoring of pump prices despite deregulation.