Atiku Reveals Fresh Plan for Fuel Subsidy If Elected President in 2027
- Atiku Abubakar, ADC presidential candidate, said he would bring back the petrol subsidy if he wins the 2027 election
- Atiku questioned where the funds saved from subsidy removal went, accusing those in government of stealing the money
- Finance Minister Taiwo Oyedele said subsidy removal generated N15.8 trillion for the federation between June 2023 and December 2025
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Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has promised to restore Nigeria's petrol subsidy if he wins the 2027 presidential election.
Atiku demanded accountability for funds President Bola Ahmed Tinubu's government says were saved from its removal.
Source: Twitter
As reported by TheCable, he made the remarks during a televised interview on Wednesday, speaking partly in Hausa.
He said his concern was not with the subsidy removal itself but with the failure of the current administration to show how the savings had been used.
"I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it."
He added that anyone who misappropriated the funds would be held responsible.
"If elected, I will bring back the oil subsidy, and whoever stole the money must refund it."
Atiku's conditions for subsidy removal
According to The Guardian, the former vice president said the decision to scrap the subsidy could have been defensible had the savings been redirected into development.
He argued that with proper management, a future government could again remove the subsidy and use the proceeds more effectively.
"The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different. If elected, I can remove the subsidy and use the money to do all these properly."
Source: Facebook
Fuel subsidy under Tinubu's govt
President Tinubu announced the removal of the petrol subsidy during his inaugural address on May 29, 2023.
The move immediately drove up the cost of living, with prices of goods and transport rising sharply across the country.
Several state governors have since reported that their monthly allocations from the Federation Account Allocation Committee (FAAC) rose considerably after the subsidy was scrapped.
Atiku's pledge puts him at odds with the current administration's position, and sets up the subsidy question as a key fault line heading into the 2027 general elections.
FG: N15.8trn saved from subsidy removal
Earlier, Legit.ng reported that the Finance Minister Taiwo Oyedele presented a reform scorecard showing how much the government raised from fuel subsidy and FX changes.
The Federal Government received N5.4trn of the total, while states and local governments shared the remaining N10.4trn.
Oyedele revealed the government also borrowed an additional N11.9trn during the same 30-month period to meet spending needs.
Source: Legit.ng
