Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has promised to restore fuel subsidy if elected president in 2027, saying the removal of the subsidy has brought severe hardship to millions of Nigerians.
Atiku made the promise during an interview on Wednesday as the 2027 election campaign season got underway. He questioned what happened to the money saved after the Federal Government removed the petrol subsidy in May 2023.
He argued that Nigerians were promised that the money saved from subsidy removal would be used to reduce poverty, improve education, tackle insecurity and create better opportunities for young people. However, Atiku questioned where the money went, alleging that the savings had not been properly accounted for and calling for anyone found to have diverted or stolen public funds to be held accountable.
Atiku said that if elected, he would bring back subsidy while ensuring that public funds are properly accounted for. He also said anyone found to have stolen money meant for Nigerians should be made to return it.
The former vice president’s proposal comes as many Nigerians continue to struggle with high fuel prices, expensive transportation, rising food costs and a wider cost of living crisis.
The removal of the subsidy caused petrol prices to rise sharply and pushed up the cost of transportation and other basic goods. Reuters reported that the economic reforms have improved government finances and attracted investor support but have also increased pressure on ordinary Nigerians.
Atiku’s position has already triggered a political fight with President Bola Tinubu and his administration.
The Presidency has criticised the proposal, arguing that bringing back fuel subsidy would damage the progress made in domestic refining and put pressure on government finances. Tinubu also attacked Atiku’s plan, describing it as a sign of ignorance about governance and the economy.
Atiku’s new position is also notable because he supported the removal of petrol subsidy during the 2023 election campaign. His latest proposal therefore represents a major change as he prepares to challenge Tinubu in the 2027 presidential election.
However, Atiku’s campaign says his proposal would not simply bring back the old subsidy system. His economic plan proposes government support for qualifying Nigerian refineries using locally refined products, with conditions aimed at ensuring that ordinary consumers benefit from lower petrol prices.
The debate is likely to become a major issue in the 2027 election as political parties battle over how to reduce the cost of living.
For millions of Nigerians facing expensive food, transport and fuel, the central question is whether subsidy should return and whether it can be managed in a way that helps ordinary people without creating another huge burden on government finances.
Atiku is betting that his promise to reduce the pain at the pump will appeal to Nigerians struggling with the high cost of living. The Tinubu administration, however, insists that the country must stay with its current reforms and avoid returning to the old subsidy system.
