Presidency Challenges Atiku on Petrol Subsidy Proposal

On Thursday, the Presidency responded sharply to former Vice President Atiku Abubakar regarding his proposal to restore petrol subsidy if elected in the 2027 General Elections. The Presidency, represented by Special Adviser on Information and Strategy Bayo Onanuga, described Atiku's plan as a reversal of his earlier economic position and a potential threat to Nigeria’s domestic refining efforts and public finances.

While acknowledging Atiku's right to propose alternative policies, Onanuga emphasized the need for transparency regarding the financial, legal, and administrative implications of restoring the subsidy. He pointed out that Atiku had previously supported subsidy removal during the 2023 presidential campaign and had not explained how the proposed restoration would be funded or implemented.

Onanuga also disputed Atiku's claim of a N30 trillion subsidy windfall, stating that no such fund existed and explaining the financial obligations created by the previous subsidy arrangement. He noted that the subsidy system had been dismantled under the Petroleum Industry Act (PIA), which mandated the termination of subsidies by June 2023.