Presidency slams Atiku Abubakar over ‘conflicting’ petrol subsidy position

Nigeria's Presidency has sharply criticized former Vice-President Atiku Abubakar, accusing him of presenting conflicting positions on the crucial issue of petrol subsidy. The Presidency, through its Special Adviser on Information and Strategy, Bayo Onanuga, stated that the multiple explanations emerging from Abubakar and his aides within a single week demonstrate a significant lack of clarity in his policy proposals.

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Atiku confused on petrol subsidy; third U-turn in one week shows he is simply playing politics.

Onanuga highlighted that Abubakar's stance on the subsidy has reportedly changed or been reinterpreted three times in just one week. Initially, his spokesperson indicated a plan to restore the subsidy if elected, followed by a phase-out. Subsequently, another aide reportedly disavowed this position, suggesting the subsidy would remain until domestic refining capacity increased and market competition was established. Abubakar himself later intervened, reaffirming a commitment to a 'targeted subsidy.'

The Presidency questioned the rationale behind these shifting explanations, labeling it a "serious policy contradiction" rather than a mere semantic difference. It demanded that Abubakar provide concrete details about his proposed 'targeted subsidy.' Specifically, the Presidency wants to know its projected cost, how beneficiaries will be identified, the funding sources, and the objective economic conditions that would trigger its eventual termination.

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This is not merely a matter of semantics. It is a serious policy contradiction.

Furthermore, the presidential aide challenged Abubakar's assertion that petrol prices directly correlate with the cost of living. Onanuga argued that food inflation is influenced by a multitude of factors, including insecurity, exchange rates, logistics, and agricultural costs. The Presidency also questioned Abubakar's proposal to link subsidy levels to crude oil prices, pointing out that refining crude oil yields various products beyond just petrol, and asked whether the proposed subsidy would extend to other fuels like diesel and kerosene.

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We therefore urge Atiku to stop shifting positions and explain precisely what he means by ‘targeted subsidy’: how much will it cost, who will benefit, how will beneficiaries be identified, how will it be funded, and what objective economic conditions will determine its eventual termination?