Many Nigerians demand return of fuel subsidy — Atiku

Atiku Abubakar

*Says he'll introduce transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians

Former Vice President, and Presidential candidate of African Democratic Congress,  Atiku Abubakar, has said 67.4 per cent of Nigerians surveyed by SBM Intelligence want petrol subsidy restored, citing the finding as evidence of widespread demand for relief from soaring fuel and transport costs.

The survey, according to Atiku, captures the pressure facing households, workers and businesses as petrol prices continue to drive up the cost of everyday life.

In a statement by his Senior Special Assistant on Public Communication, Phrank Shaibu, yesterday, Atiku said petrol was the second-most cited national problem and the Tinubu administration’s worst-rated policy issue, scoring 1.69 out of four.

“This survey is no longer merely about economic policy. It has become a democratic question. When an overwhelming majority of Nigerians declare that a government policy is destroying their lives, responsible leadership must listen,” Atiku said.

He said petrol was a bigger concern in rural areas, where 32.4 per cent of respondents identified it as their primary problem, against 11.7 per cent in urban areas.

It also ranked highest in the South-West at 30.5 per cent and South-South, at 29.1 per cent.

Atiku blamed the hardship on the removal of subsidy, saying the policy had pushed up transport and food costs and weakened household and business purchasing power.

“President Tinubu removed subsidy with a slogan, not a strategy. He had no credible plan for domestic refining, mass transportation, wage protection or the millions of small businesses that depend on affordable energy,” he said.

He said his alternative would not restore the old subsidy regime but introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians.

“If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians,” Atiku said.

He added that imports would not qualify, adding that the scheme would have a fixed spending limit, National Assembly approval and independent audits, with the aim of reducing fuel prices, strengthening domestic refining and restoring purchasing power.