APC-PCC Challenges Atiku's Petrol Subsidy Proposal

The All Progressives Congress Presidential Campaign Council (APC-PCC) has criticized former Vice President Atiku Abubakar's proposed petrol production subsidy, describing it as an uncosted promise without a clearly defined legal and operational framework. APC-PCC spokesman Dele Alake challenged Atiku to clarify how his proposal would ensure lower petrol prices and comply with the Petroleum Industry Act (PIA).

He highlighted that the PIA mandates free-market conditions for determining petroleum prices. Alake questioned whether refineries receiving the subsidy would be required to sell petrol at a set price and demanded details on the subsidy rate, annual spending ceiling, and funding sources.

He noted that the financial implications could reach N17 trillion to N21 trillion annually. Alake also urged Atiku to reconcile his current proposal with his previous stance against petrol subsidies, recalling his remarks in November 2022 where he deemed the subsidy system fraudulent.