Again, FG, APC tackle Atiku over petrol subsidy return call

Nigeria's Federal Government and the ruling All Progressives Congress (APC) have strongly cautioned against any move to reinstate the controversial petrol subsidy. They argue that such a reversal would reintroduce fiscal pressures, economic distortions, and uncertainties that led to its removal in the first place.

The warning came in response to proposals by former Vice President Atiku Abubakar, who suggested restoring the subsidy if elected president in 2027. Abubakar contended that Nigerians have not seen sufficient benefits from the savings generated by the subsidy removal and demanded an accounting of these funds. He also proposed a different model involving targeted, capped production subsidies for domestic refineries.

Minister of Information and National Orientation, Mohammed Idris, and APC National Chairman, Prof. Nentawe Yilwatda, separately addressed Abubakar's call. Yilwatda described Abubakar's position as a "deeply troubling policy U-turn," questioning the financing of such a policy and its timing, just months before the 2027 general election. He emphasized that economic policy should not be reduced to election promises and that Nigerians deserve clarity on funding sources and potential costs.

President Bola Tinubu's administration ended the petrol subsidy regime in May 2023, stating it was unsustainable. The government has since argued that the resources previously allocated to subsidies are now being redirected to infrastructure, education, healthcare, and job creation. Officials maintain that the subsidy imposed an enormous burden on government finances and its removal was a necessary step for economic reform.

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Economic policy cannot be reduced to election-season promises. Nigerians deserve to know precisely where the money will come from, what sectors will bear the cost and whether such a policy can be sustained without reopening the fiscal pressures that necessitated reform in the first place.