Atiku Accuses Tinubu Presidency of Lying About His Production Subsidy Proposal
- Atiku Abubakar fired back at the Tinubu Presidency over what he called a deliberate misrepresentation of his fuel subsidy plan
- The former Vice President said his proposal targets crude refined inside Nigeria, not imported petrol, and would not force refineries to sell at a loss
- Atiku's statement, issued by aide Phrank Shaibu, argued that Dangote Refinery's own warning actually strengthens the case for a production subsidy model
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Former Vice President Atiku Abubakar has accused the Tinubu administration of wilfully twisting the details of his production subsidy proposal, saying the government used Dangote Refinery's legitimate business concerns as a tool to spread fear rather than engage honestly on policy.
The accusation came in a statement sighted by Legit.ng and released on September 11, 2026, by his Senior Special Assistant on Public Communication, Phrank Shaibu.
Source: Getty Images
Atiku said the Dangote Refinery was correct to argue that a private investor cannot be made to absorb losses caused by government-set prices. However, he insisted this has nothing to do with what he actually proposed.
"A refinery that has invested billions of dollars cannot be commanded to sell indefinitely below cost and absorb the losses. That would be reckless, economically destructive and unfair to any private investor. But that is precisely why our proposal is different," Atiku said.
What the production subsidy model involves
Atiku drew a clear line between an import subsidy, which he described as spending public money on petrol refined abroad, and a production subsidy, which would reduce the cost of crude oil supplied to qualifying domestic refineries through a capped, audited and independently verified process.
"If the crude entering a refinery becomes cheaper, the cost of producing petrol should also come down. That reduction should then reach the average Nigerian while preserving legitimate refining costs and a reasonable commercial margin," he said.
He added that support under the plan would only apply to crude refined inside Nigeria, excluding foreign refineries, importers and middlemen entirely.
To prevent abuse, Atiku listed safeguards his administration would put in place, including a hard fiscal ceiling, independent verification, electronic tracking of crude intake and refined output, domestic-supply obligations, transparent pricing and penalties for fraud.
"No mystery barrels. No endless claims. No blank cheques," he said.
Atiku hits back at the presidency
Atiku rejected the government's suggestion that any form of subsidy would inevitably lead to economic collapse, calling it "melodrama from the Villa."
He also pointed to what he described as hypocrisy, noting that the Tinubu administration regularly gives tax waivers and concessions to businesses while treating a consumer-focused production subsidy as dangerous.
"Intervention is acceptable when government gives waivers and concessions to powerful interests, but it suddenly becomes dangerous when the objective is to reduce the cost of fuel, transport and food for ordinary Nigerians? That is not economic principle. That is selective compassion," Atiku said.
He called on the Presidency to engage his actual proposal rather than attack a version of it they had invented, and challenged the government to an open debate.
"If the Presidency wants a debate, let us have the debate. But let it first stop lying about what we are proposing," he said.
Atiku resigned from the African Democratic Congress on May 2, 2026, and was ratified as the presidential candidate of the NDC for the 2027 general elections on May 29, 2026.
Atiku slams Tinubu over Vienna bond plan
Previously, Legit.ng reported that former Vice President Atiku Abubakar challenged the Tinubu administration to publicly account for Nigeria's revenues, subsidy savings and rising oil receipts before pursuing a new financing arrangement on the Vienna bond market.
In a statement sighted by Legit.ng and released on September 10, by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the Vienna transaction involving ESME Limited, described as a special-purpose vehicle with both Nigerian public institutions and Austrian interests, raises serious transparency concerns.
Source: Legit.ng
