67.4% Of Nigerians Support petrol subsidy return, Atiku says, unveils alternative

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Former Vice-President Atiku Abubakar has said 67.4 per cent of Nigerians surveyed by SBM Intelligence want petrol subsidy restored, describing the finding as evidence of widespread demand for relief from rising fuel and transportation costs.

Atiku cited the survey in a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu.

According to Atiku, the findings reflect the economic pressure being experienced by households, workers and businesses as petrol prices continue to affect the cost of transportation and other essential goods and services.

He said petrol was identified as the second-most pressing national problem in the survey and received the lowest rating among issues associated with the administration of President Bola Tinubu, scoring 1.69 out of four.

“This survey is no longer merely about economic policy. It has become a democratic question. When an overwhelming majority of Nigerians declare that a government policy is destroying their lives, responsible leadership must listen,” Atiku said.

The former Vice-President said the impact of petrol prices was more pronounced in rural communities, where 32.4 per cent of respondents identified fuel as their primary concern, compared with 11.7 per cent in urban areas.

He also said petrol ranked highest as a concern in the South-West, with 30.5 per cent of respondents identifying it as their primary problem, followed by the South-South at 29.1 per cent.

Atiku attributed the hardship to the removal of petrol subsidy, arguing that the policy had contributed to higher transportation and food costs while reducing the purchasing power of households and businesses.

“President Tinubu removed subsidy with a slogan, not a strategy. He had no credible plan for domestic refining, mass transportation, wage protection or the millions of small businesses that depend on affordable energy,” he said.

Rather than restoring what he described as the old subsidy regime, Atiku said his proposed approach would involve a transparent production subsidy for petroleum products refined locally and sold to Nigerian consumers.

“If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians,” Atiku said.

He said imported petroleum products would not qualify under the proposed scheme.

According to him, the programme would also operate under a fixed spending limit, require approval from the National Assembly and be subject to independent audits.

Atiku said the proposed policy would be designed to lower petrol prices, encourage domestic refining and improve the purchasing power of Nigerians.

The proposal comes amid continuing political debate over the future of petrol pricing and subsidy policy, with opposition politicians and other stakeholders offering different approaches to addressing the impact of fuel costs on households and businesses.