2027: Atiku promises to restore fuel subsidy

The presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has pledged to restore fuel subsidy if elected President in 2027.

Mr Atiku accused the administration of President Bola Tinubu of failing to deliver sufficient benefits to Nigerians from the removal of the subsidy in 2023.

The former Vice President made the remarks during an interview with select Hausa-language news platforms on Wednesday, where he also demanded an account of the savings generated from the subsidy removal.

Mr Atiku, who acknowledged that he had initially supported the removal of the subsidy, questioned how the funds saved from the policy had been utilised by the Federal Government.

“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money?” he asked.

He also questioned whether the savings had translated into improvements in critical sectors of the economy, particularly healthcare, education and security.

“Has it been used to improve healthcare, education or security?” Atiku asked.

The ADC presidential candidate said he would reverse the policy if elected President in the 2027 presidential election scheduled for January.

“If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money,” he said.

The pledge marks a major policy position by Atiku ahead of the 2027 election, as the removal of fuel subsidy remains one of the most contentious economic policies of the Tinubu administration.

Mr Tinubu announced the end of the petrol subsidy shortly after assuming office in May 2023, a decision that triggered a sharp increase in petrol prices and contributed to heightened economic hardship for households and businesses.

The Federal Government has, however, maintained that subsidy removal was necessary to free up resources for development and reduce the financial burden of subsidising petrol consumption.