FG, APC Oppose Atiku’s Plan to Restore Petrol Subsidy
FG, APC Oppose Atiku’s Plan to Restore Petrol Subsidy
The Federal Government and the All Progressives Congress (APC) have opposed former Vice President Atiku Abubakar’s proposal to restore petrol subsidy if elected president in 2027.
Atiku, the presidential candidate of the African Democratic Congress (ADC), recently said he would reinstate petrol subsidy, arguing that Nigerians have not seen sufficient benefits from the resources generated following the removal of the subsidy.
The former vice president also called for an account of the funds generated from the policy and said such resources should have been used to address poverty, education, security and other areas of public need.
Responding to the proposal, APC National Chairman, Prof. Nentawe Yilwatda, questioned how a renewed subsidy programme would be financed and sustained. He argued that returning to subsidy could recreate the fiscal pressures that accompanied the previous system.
Minister of Information and National Orientation, Mohammed Idris, also defended the government’s decision to remove the subsidy, maintaining the administration’s position that reversing the policy would undermine the economic reforms being implemented by the Federal Government.
President Bola Tinubu announced the removal of petrol subsidy during his inaugural address on May 29, 2023, bringing an end to the previous subsidy regime.
The disagreement has renewed debate over petrol pricing, government spending and how best to cushion the impact of economic reforms on Nigerians ahead of the 2027 presidential election.
