Former Vice-President Atiku Abubakar has said his proposal to restore fuel subsidy is aimed at supporting domestic refining and reducing petrol prices, rather than subsidising imported fuel.
Atiku made the clarification in a series of posts on his X platform on Saturday, describing the proposed policy as a “production subsidy” designed to lower the cost of locally refined petrol.
According to him, the government would support crude oil refined within Nigeria to enable domestic refineries to produce petrol more cheaply and pass the savings on to consumers.
Atiku used shoemaking as an analogy, saying the government could either spend public funds to make imported shoes cheaper or support local shoemakers in Aba to reduce production costs, create jobs and offer more affordable products.
“I choose the Aba shoemaker,” he said.
He explained that the same principle would apply to fuel, with government support for domestic refineries helping to reduce production costs and make petrol more affordable.
Atiku said the policy would go beyond reducing pump prices, arguing that cheaper fuel would also help ease the broader cost-of-living crisis by lowering transportation, food distribution and energy costs for households and businesses.
“I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down. I want the trader to spend less. I want the barber, tailor, welder and small business owner to spend less on energy,” he said.
He added that his goal was to put more money in Nigerians’ pockets by reducing fuel and transportation expenses while easing pressure on food prices.
“I will make life affordable again. I will make Nigeria affordable again. It is a promise,” Atiku said.
In a separate post responding to a follower’s prayer, the former vice-president urged Nigerians to help explain his proposed production subsidy and its potential benefits to women and families.
He said lower fuel costs could reduce transportation expenses, make it easier for women to operate small businesses and help bring down the prices of food and other household necessities.
“That is what my production subsidy is about: support what we refine here, create jobs here, reduce the cost of fuel here, and make everyday life more affordable for Nigerian families,” he said.
