Atiku Abubakar's Fuel Subsidy Proposal Gains Support

Former Vice President Atiku Abubakar asserted that the concerns raised by Dangote Refinery regarding government-imposed petrol prices validate his proposal for a production-based fuel subsidy. Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, stated that Dangote's warning about private refineries being compelled to sell petrol at a loss reflects a legitimate business concern.

He criticized the Tinubu administration for allegedly distorting this issue to discredit his proposal. Atiku clarified that his subsidy model aims to reduce the cost of crude feedstock for qualifying Nigerian refineries, promoting domestic refining rather than supporting imported fuel.

He proposed a capped support mechanism for crude supplied to eligible refineries, including independent verification and audits. Atiku rejected the notion that consumer protection from high fuel prices must compromise refinery profitability, advocating for a balanced approach that supports both producers and consumers.

He urged the government to engage substantively with his proposal rather than misrepresenting it.