Why I want to restore fuel subsidy, Atiku

Former Vice President Atiku Abubakar has articulated his rationale for proposing the restoration of Nigeria's petrol subsidy should he win the presidency in 2027. Abubakar stated that his decision stems from the perceived lack of transparency regarding the funds generated after the subsidy's removal, suggesting that Nigerians have not seen the benefits of the savings.

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I did not oppose the removal of the oil subsidy, but where is the money? Where did it go?

In an interview with BBC Hausa, Abubakar clarified that he did not oppose the subsidy removal itself but questioned the destination of the funds. "I did not oppose the removal of the oil subsidy, but where is the money? Where did it go?" he asked. He argued that these resources should have been directed towards improving the welfare of citizens, specifically by alleviating poverty and supporting educational initiatives. "It was intended to reduce poverty and help children attend school. Where is the money now?" he queried, alleging that the funds appear to be misused.

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It was intended to reduce poverty and help children attend school. Where is the money now?

Abubakar linked his proposal to the severe economic hardships, including food scarcity, that Nigerians are currently experiencing. He pointed to the substantial sums, reportedly around 30 trillion naira, that were expected to be freed up by the subsidy removal. "They talk about 30 trillion, where is the money, what was done with it?" he asked, emphasizing that these resources should have been channeled into programs aimed at reducing poverty, tackling unemployment, and enhancing security.

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It seems they are just stealing it.

Furthermore, Abubakar connected his position to the critical issue of youth unemployment. He recalled proposing a $10 billion fund during the last presidential election to provide capital for young entrepreneurs, estimating that such a program could significantly reduce hardship for a large percentage of beneficiaries. He questioned why similar resources have not been allocated to address youth unemployment and improve living conditions.

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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.