Atiku Under Fire Over Fuel Subsidy U-Turn

Tinubu: Returning To Subsidy Shows Serious Ignorance — Wike Accuses Atiku Of Inconsistency — Presidency Says Policy Is Retrogressive, Unsust...

Tinubu: Returning To Subsidy Shows Serious Ignorance — Wike Accuses Atiku Of Inconsistency — Presidency Says Policy Is Retrogressive, Unsustainable

Former Vice President and presidential candidate of the ADC in the 2027 election, Atiku Abubakar, has come under intense criticism over his pledge to restore the petrol subsidy if elected president in 2027, with the Presidency and senior figures in the Bola Tinubu administration questioning the economic rationale behind the proposal.

President Bola Tinubu on Thursday described the move as evidence of what he called “serious ignorance” of governance and economic management.

Although the President did not mention Atiku by name, he was apparently referring to the former vice president, who had earlier promised to reinstate petrol subsidy if elected in 2027.

“I saw one of my opponents now say he will go back to subsidy. I read it. That is a demonstration of serious ignorance on governance and economy,” Tinubu said at the Presidential Villa, Abuja, while receiving Osun State Governor Ademola Adeleke.

The Presidency, through the Special Adviser to the President on Information and Strategy, Bayo Onanuga, also rejected the proposal, describing it as “retrogressive” and “fiscally unsustainable.”

The Presidency argued that Nigeria’s petroleum sector had changed significantly since Tinubu announced the removal of subsidy on May 29, 2023, particularly with the emergence of significant domestic refining capacity.

The Minister of the Federal Capital Territory, Nyesom Wike, also attacked Atiku over the proposal, accusing him of inconsistency and changing his position for political advantage.

Wike recalled that Atiku had advocated the removal of fuel subsidy during the 2023 presidential campaign, but was now proposing its restoration ahead of the 2027 election.

The FCT minister described Atiku as a “voodoo economist”, alleging that the former vice president would say anything to win the presidency.

He also questioned how a restored subsidy would operate under the current petroleum industry structure, particularly following the Petroleum Industry Act and the commercialisation of the Nigerian National Petroleum Company Limited.

Wike further asked whether Atiku would subsidise petrol produced by the Dangote Refinery, arguing that returning to government-controlled fuel pricing could reverse reforms aimed at creating a commercially driven and competitive petroleum sector.

Meanwhile, the Coalition for Tinubu-Okpebholo-Nigeria accused Atiku and the opposition of presenting Nigerians with contradictory positions on fuel subsidy.

The coalition’s spokesman, John Mayaki, described the situation as “Atiku versus Atiku,” recalling that Atiku had previously described fuel subsidy as a fraud and advocated its removal.

“If Atiku or his political platform now believes subsidy should return, Nigerians deserve the arithmetic,” Mayaki said.

“How much will it cost? Who qualifies? Where will the money come from? How will another subsidy regime avoid the leakages and abuses Atiku himself previously condemned?”

Separately, the Senior Special Assistant to the President on Media and Public Enlightenment, Abdulaziz Abdulaziz, challenged Atiku and his supporters to explain how a restored subsidy would be financed.

Abdulaziz said Nigeria consumes approximately 47.4 million litres of petrol daily, citing data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

He estimated that restoring the subsidy could require about ₦1.422 trillion monthly, raising questions about the impact such expenditure could have on other government obligations.

He argued that committing a substantial portion of public revenue to petrol subsidy could constrain spending on salaries, security, education, youth employment and infrastructure.

The controversy has opened a fresh political and economic battle over one of the most contentious policies in Nigeria’s recent history, with the 2027 presidential election increasingly shaping the debate over whether petrol subsidy should remain abolished or return in a targeted form.