Atiku: My fuel subsidy plan will reduce petrol, transport costs

Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has explained that his proposal to restore fuel subsidy is aimed at reducing the cost of locally refined petrol rather than supporting the importation of petroleum products.

Atiku made the clarification in a series of posts on his account on Saturday while responding to a comment from a follower identified as Francis.

The former vice-president said his proposed policy would support domestic refineries, increase local production and ultimately reduce the amount Nigerians pay for petrol.

According to him, his approach would be fundamentally different from the former system of subsidising imported fuel.

“I am not restoring subsidy so that Nigeria can keep paying for imported petrol. I am restoring subsidy so that Nigerians can produce more at home, pay less for fuel, and keep more money in their pockets,” Atiku stated.

He described the proposal as a “production subsidy”, distinguishing it from an import subsidy.

Atiku illustrated the policy with the example of local shoemakers in Aba, saying government could either spend money making imported shoes cheaper or support local manufacturers to reduce their production costs.

“I choose the Aba shoemaker,” he said.

Applying the same principle to the petroleum sector, Atiku said a government under his leadership would support crude oil refined domestically so that local refineries could produce fuel at lower costs.

“I will do the same with fuel. We will support crude refined in Nigeria so our refineries can produce at a lower cost and you can pay less,” he said.

Atiku argued that lower fuel prices would have wider economic benefits beyond reducing the amount motorists spend at filling stations.

He said cheaper fuel would help bring down transportation costs, reduce the cost of moving agricultural produce from farms to markets and lower operating expenses for small businesses.

“I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down,” he said.

The ADC candidate also mentioned traders, barbers, tailors, welders and other small business owners who depend on fuel and energy to operate, saying his objective was to reduce their costs and improve their earnings.

He further said households would have more disposable income if the cost of fuel, transportation and food logistics was reduced.

“I want a mother to return from the market with more food in her bag,” Atiku said.

“I want a father to pay transport and still have something left in his pocket. I want a small business owner to close for the day with profit, not just enough money to buy fuel for tomorrow.”

Atiku said the success of economic policies should ultimately be measured by their impact on the finances and daily lives of ordinary Nigerians.

“That is what affordability means to me. Less money spent on fuel. Less money spent on transport. Less pressure on food prices. More money left for your family,” he said.

He added that his broader objective was to make life more affordable for Nigerians, pledging to pursue policies that would reduce household expenses and ease economic pressure.

“My promise is personal: I want you to feel relief in your pocket, in your home and in your daily life,” Atiku stated.

“I will make life affordable again. I will make Nigeria affordable again. It is a promise.”

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