Former Vice President and African Democratic Congress (ADC) presidential candidate Atiku Abubakar has urged President Bola Tinubu to take immediate steps to reduce petrol and diesel prices, saying high energy costs are putting pressure on households, workers and businesses.
Speaking at a press conference in Abuja, Atiku argued that the rising cost of fuel has affected transportation, food prices, production and other areas of daily life. He called on the Federal Government to reconsider its approach to fuel pricing and introduce measures that could provide relief to Nigerians.
Atiku said the impact of expensive petrol extends beyond filling stations, arguing that higher transport costs increase the cost of moving farm produce, stocking businesses and commuting to work.
He also criticised the government’s handling of economic reforms, saying the success of such policies should ultimately be measured by their effect on Nigerians’ purchasing power and living standards.
The former vice president recalled his earlier call for government intervention following the removal of petrol subsidy. According to Atiku, the concerns raised by workers, manufacturers, petroleum marketers and other Nigerians over energy costs should prompt the government to review its approach.
Atiku particularly appealed to Tinubu to use the remaining months of his administration to reduce the pressure on households. He said the president could adopt his proposed measures even if they were implemented under a different name.
The fuel price reduction proposal, according to Atiku, should focus on policies that address the underlying causes of high energy costs rather than relying mainly on temporary relief measures.
He also criticised the use of palliatives as a long-term response to economic hardship, arguing that assistance to vulnerable Nigerians should not replace policies aimed at reducing the cost of transportation, electricity and other essentials.
Atiku further raised concerns about electricity costs and warned against repeating what he described as the difficulties associated with the petrol subsidy removal. He urged the government to consider the effects of higher energy prices on small businesses, manufacturers and families.
On his own economic proposal, Atiku said that if elected president in 2027, he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold domestically.
He explained that the proposed scheme would be limited to products verified as being refined in Nigeria, while imported petroleum products would not qualify. He added that the programme would have a defined spending limit, National Assembly approval and independent audits.
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The ADC candidate said his proposed fuel price reduction approach would be designed to support domestic production while making petroleum products more affordable for Nigerians.
Atiku also offered to provide the Tinubu administration with his policy framework if it could help reduce the cost burden on Nigerians before the end of the current administration.
He maintained that political differences should not prevent the government from adopting policies that could improve the welfare of citizens.
The former vice president said that while he remained prepared to compete politically with Tinubu ahead of the 2027 election, the welfare of Nigerians should remain separate from political competition.
Atiku’s latest comments come amid renewed political debate over petrol prices and the future of fuel subsidy policy, with the former vice president having previously said he would restore a form of petrol subsidy if elected in 2027.