Presidency Challenges Atiku on Petrol Subsidy Clarity

The Presidency of Nigeria, represented by Special Adviser on Information and Strategy Bayo Onanuga, issued a statement challenging former Vice-President Atiku Abubakar to clarify his proposed “targeted subsidy” for petrol. Onanuga criticized Atiku for providing inconsistent explanations regarding the subsidy within a week, citing statements from Atiku's aides that contradicted each other.

He noted that Atiku's spokesperson, Paul Ibe, initially indicated a temporary restoration of the subsidy, while another aide, Phrank Shaibu, later claimed that the subsidy would remain until domestic refining and market conditions improved. Onanuga emphasized that petrol prices are influenced by various factors, including international crude oil prices and market costs, and rejected the oversimplification of the relationship between petrol prices and food inflation.

He called for Atiku to present a coherent and costed petroleum policy, underscoring the importance of clarity in economic policy for Nigeria's stability.