The Presidency has challenged former Vice-President Atiku Abubakar to provide details of his proposed petrol subsidy plan, questioning how the policy would be funded and implemented if he wins the 2027 presidential election.
The challenge followed Atiku’s renewed pledge to introduce what he described as a “targeted subsidy” on petrol, a position the Presidency said had been presented differently by members of his political team within the space of one week.
In a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency argued that Nigerians needed a clear and costed policy rather than conflicting explanations.
Onanuga said Atiku’s media aide, Paul Ibe, initially indicated that the subsidy would be restored temporarily and later phased out. Another aide, Phrank Shaibu, subsequently described that explanation as unauthorised, while Atiku later reaffirmed his intention to restore a targeted subsidy.
The Presidency said the differing positions raised questions about the former vice-president’s proposed approach to petrol pricing and economic management.
It asked Atiku to explain the meaning of “targeted subsidy”, including its estimated cost, beneficiaries, funding mechanism and the conditions that would determine when the programme would end.
The government also disputed the suggestion that restoring petrol subsidy alone would resolve the country’s cost-of-living pressures.
According to the Presidency, food prices are influenced by several factors beyond petrol costs, including agricultural productivity, insecurity, exchange rates, logistics, storage, flooding and input costs.
It further argued that petrol prices are affected by international crude oil prices, exchange rates, refining expenses, transportation and distribution costs, meaning that a subsidy would not automatically guarantee cheaper fuel.
The Presidency also questioned Atiku’s proposal to link subsidy to crude oil, noting that refining produces several petroleum products besides petrol.
It maintained that Nigeria’s economy could not afford an unclear or potentially expensive subsidy regime and urged Atiku to present what it described as a coherent, workable and properly funded petroleum policy.
