Presidency: Atiku Unveils Plan To Return Fuel Subsidy If Elected

The 2027 African Democratic Congress, ADC, candidate Atiku Abubakar has promised to return the fuel subsidy if he becomes president next year.

The ADC presidential hopeful spoke during a Facebook Live session while addressing questions about the removal of the subsidy and its impact on the citizens.

“If I win the presidential election,” fuel subsidy will be restored immediately, the presidential candidate said during the social media broadcast yesterday.

Abubakar is contesting the presidential election with other candidates, including the incumbent Bola Ahmed Tinubu, who at his inauguration on May 29, 2023 ended the subsidy regime fir petrol and diesel.

The removal has put severe economic pressure on many Nigerian families, with not a few wondering whether the policy was necessary, particularly after it emerged that savings from the subsidy removal has not been well managed, essentially at the sub-national level, with many state governors allegedly diverting funds for personal use.

Abubakar who had initially supported the removal, has now changed his mind, saying there’s no need to retain the policy, citing the fact that the savings are being frittered away.

As President and Commander in chief, the former vice president said his first action will be the restoration of fuel subsidy in the country.

“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money? Where has the subsidy money gone? Has it been used to improve healthcare, education or security?

“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.

According to the Tinubu’s administration, one of the major gains of subsidy removal is that it has freed up more resources at the state and national level to be used to develop critical sectors of the economy, such as health, education, regular payment of salary and pensions for workers, government commitments that were difficult to fund pre- removal period because of paucity of funds.