ADC Challenges Presidency on Petrol Subsidy Claims

The African Democratic Congress (ADC) has rejected the Presidency's assertion that reinstating petrol subsidies to support a pump price of approximately N600 per litre could cost Nigeria N19.1 trillion annually. In a statement issued on Monday by its National Publicity Secretary, Bolaji Abdullahi, the ADC argued that Nigerians are too poor to afford unsubsidised fuel.

The party expressed confusion over how the Presidency calculated the N19.1 trillion figure, suggesting it was based on a hypothetical subsidy of $40 per barrel and assumptions of $80 crude oil prices. The ADC emphasized that the core issue is the unaffordability of unsubsidised fuel for Nigerians, advocating for cheaper fuel and a transparent production-support regime that would subsidise domestic production and value addition.

The party criticized the government for not providing an alternative policy to address the economic hardships faced by Nigerians and accused it of attacking former Vice President Atiku Abubakar's petroleum policy plan without offering viable solutions.