Former Vice President Atiku Abubakar has restated his plan to restore a targeted fuel subsidy, saying Nigerians need relief from the rising cost of living.
Atiku made the statement on Tuesday after receiving the Osun State leadership of the African Democratic Congress (ADC) in Abuja.
“On the question of subsidy, my position has not changed and will not change: I will restore it!” Atiku said in a post on his official X account.
He said Nigeria has enough resources to support its citizens and argued that the strength of the economy should be measured by what people can afford with the money in their pockets.
“I want wages to have value again. I want farmers to move produce without transport swallowing their profits. I want families to fill their baskets without emptying their pockets,” he said.
Atiku Links Fuel Prices to Food Costs
Atiku said the increase in fuel prices has pushed up transportation costs and, in turn, the prices of food and other basic goods.
“When fuel rises, transport rises. When transport rises, food rises. When food rises, families suffer,” he said.
He said his proposal would focus on targeted relief rather than a return to the subsidy system he described as an import racket.
“I will not restore the import racket; I will restore relief,” he said.
Atiku also promised to support local production, reduce energy costs and improve the purchasing power of Nigerians.
Atiku Previously Supported Subsidy Removal
Atiku’s latest position marks a shift from his stance during the 2023 presidential election campaign, when he supported the eventual removal of the petrol subsidy.
In 2022, Atiku said subsidy removal was inevitable and should be carried out through consultations with labour and other stakeholders. He also said that, if elected president, he would address the subsidy issue within his first 100 days in office.
Following President Bola Tinubu’s removal of the subsidy in May 2023, however, Atiku criticised the manner in which the policy was implemented.
He argued that the government should have provided palliatives before removing the subsidy, saying the previous PDP administration had already begun a phased process towards subsidy removal.
The distinction has now become relevant as Atiku moves to campaign on restoring targeted subsidy as part of his response to the country’s cost-of-living crisis.
‘I Will Restore Relief’
Atiku said his focus would be on making the naira more valuable to Nigerians and reducing the pressure on households.
“I will make the naira in your pocket worth more, make daily living affordable again, and secure our people,” he said.
He added that his economic agenda would seek to help farmers move their produce without losing their profits to transportation costs, while enabling businesses to produce, employ workers and grow.
His latest position puts fuel prices, purchasing power and the cost of living at the centre of his economic argument as political parties and politicians begin positioning themselves ahead of the 2027 elections.
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