Following President Bola Tinubu administration’s handling of fuel subsidy removal, former Vice President and African Democratic Congress, ADC presidential candidate, Atiku Abubakar, has promised to make life more affordable for Nigerians.
Atiku expressed concern over the rising cost of transportation, food and household energy, arguing that higher petrol prices have increased economic pressure on families across the country.
In a statement issued on Friday by the Director of Strategic Communication of the ADC Presidential Campaign Council, Phrank Shaibu, Atiku said President Bola Tinubu’s Independence Day address did not adequately reflect the economic difficulties facing ordinary Nigerians.
The former vice president also criticised the President’s defence of fuel subsidy removal and his description of subsidies as “addictive.”
Atiku further disputed Tinubu’s claim that salaries and pensions had been paid “on time and in full,” saying federal workers had reported delays and pensioners were still protesting over unpaid entitlements.
Fuel Subsidy Removal: Atiku Proposes Targeted Fuel Support
Atiku said his proposed economic approach would involve targeted support for petrol refined locally rather than a blanket subsidy.
According to him, government support would be tied specifically to fuel refined in Nigeria and subjected to strict auditing.
“Our plan is to restore targeted, budgeted support for fuel refined in Nigeria, with strict auditing and a guarantee that the benefit lowers pump prices.”
He said the proposed policy would be funded by cutting government waste and would include safeguards against diversion and price manipulation.
The ADC presidential candidate added that the proposed support would not apply to imported fuel.
Atiku also pointed to Germany’s decision to temporarily reduce energy taxes on petrol and diesel as an example of government intervention to cushion consumers and businesses from high fuel costs.
Germany announced a reduction in energy tax on petrol and diesel from October 1 to December 31, 2026. The reduction is expected to provide about €2.5 billion in relief to households and businesses.
German Chancellor Friedrich Merz said the measure was intended to provide quick relief to people and businesses affected by elevated fuel prices.
Drawing a comparison with Nigeria, Atiku argued that the impact of expensive petrol extends beyond the filling station because transport costs influence the prices of food and other essential goods.
“When petrol becomes more expensive, transport becomes more expensive. When transport costs rise, food and other essentials cost more.”
He added that Nigerians should receive similar urgency from their government when fuel costs place pressure on households.
Fuel Prices and Nigeria’s Cost-of-Living Crisis
The debate over petrol pricing has remained a major issue in Nigeria since the Tinubu administration announced fuel subsidy removal in May 2023.
The policy was followed by substantial increases in pump prices and transportation costs. The government has maintained that subsidy removal was necessary to reduce the fiscal burden associated with petrol subsidies and free resources for other areas of the economy.
The administration has also highlighted measures including wage adjustments, social intervention programmes and other economic reforms intended to cushion the effects of the policy.
Atiku, however, argued that the government should take more direct measures to reduce the pressure on households.
He said lower fuel costs could have broader economic effects by reducing transportation expenses and making it cheaper to move goods from producers to markets.
“Lower fuel costs can mean a cheaper bus ride, more affordable goods at the market and more money left in a family’s pocket,” Atiku said.
Fuel Subsidy Removal: Atiku Promises Economic Policy Shift
The former vice president also expressed sympathy for Nigerians struggling with higher transportation, food and household expenses.
He pledged that his administration would pursue policies aimed at reducing the cost burden on households if elected.
“To every Nigerian forced to choose between feeding a family, paying for transport or meeting another basic need, I am deeply sorry. You did not deserve this hardship.”
Atiku said his broader economic approach would focus on domestic production, job creation and measures designed to reduce living costs.
“Nigeria’s wealth should ease the burden on its people,” he said, adding that his proposed approach would be to “produce here, create jobs here and make life affordable again.”
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