Nigeria: Atiku Says He Would Restore Petrol Subsidy If Elected Nigeria President

Nigeria’s African Democratic Congress (ADC) presidential candidate Atiku Abubakar said on Wednesday he would restore the petrol subsidy if elected president in 2027, accusing the government of failing to account for funds saved by its removal.

“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said in Hausa.

“If elected, I will bring back the oil subsidy, and whoever stole the money must refund it,” he said.

Atiku said the removal of the petrol subsidy could have been justified if the savings had been channelled into development projects across the country.

“The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different. If elected, I can remove the subsidy and use the money to do all these properly,” he said.

President Bola Tinubu announced the removal of the petrol subsidy in his inaugural address on May 29, 2023.

The decision triggered an immediate increase in petrol prices and pushed up the cost of living, with the prices of goods and services rising across the country.