Former Vice President Atiku Abubakar has urged President Bola Tinubu to use the remaining months of his administration to reduce petrol prices and ease the rising cost of living.
Atiku, spoke at a media conference in Abuja on Friday where he addressed high fuel prices, palliatives and the cost of living.
Pump prices for petrol in Nigeria currently range from N1,340 to N1,500 depending on location.
The presidential candidate of the African Democratic Congress (ADC) in the 2027 election, said Nigerians had borne the consequences of petrol subsidy removal since May 29, 2023, without adequate protection for families, workers, farmers and businesses.
He said the impact had spread from petrol stations to transportation, markets and households, arguing that higher energy costs had increased the cost of virtually every economic activity.
“When the government makes energy expensive, it makes life expensive,” Atiku said, adding that economic policies should ultimately be judged by their impact on citizens’ purchasing power.
He recalled that when he previously advocated government intervention to reduce fuel prices, Tinubu dismissed the proposal as demonstrating “serious ignorance” of governance and the economy.
Atiku, however, asked whether the Nigeria Labour Congress, petroleum marketers, manufacturers and millions of Nigerians complaining about rising costs could all be described as ignorant for demanding government intervention.
“When workers, producers, marketers and ordinary families are all raising the alarm, the government must listen,” he said.
The former vice-president also criticised the Federal Government’s emphasis on GDP growth, higher revenues and increased allocations, saying such figures meant little if Nigerians could afford less food, fuel, electricity and transportation.
Atiku urged Tinubu to use what he described as approximately eight months remaining in his tenure to provide relief, saying the President should not reject an idea simply because it was proposed by a political opponent.
“Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol simply because Atiku Abubakar proposed a government intervention,” he said.
“Take the idea. Rename it if he wishes. And even take the credit. What matters to me is that Nigerians pay less.”
He also rejected reliance on palliatives as a substitute for sound economic policy, comparing them to giving a man crutches after “breaking his legs” and expecting applause for providing mobility.
Turning to electricity, Atiku warned against the planned phasing out of electricity subsidies from 2027, saying the experience with petrol should not be repeated by imposing higher costs before considering their impact on households and businesses.
He said that if elected in 2027, he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians, subject to a fixed spending limit, National Assembly approval and independent audits.
“I am prepared to compete with you politically,” Atiku said. “But I will never compete with the welfare of the Nigerian people.”
