Atiku’s Petrol Subsidy Plan Lacks Legal Framework
The council says the plan is uncosted and could cost up to N21 trillion a year, while raising questions about pricing, funding and consumer benefits.
- On Sunday, the All Progressives Congress Presidential Campaign Council challenged former Vice-President Atiku Abubakar to explain the legal and operational framework of his proposed "production subsidy" for locally refined petrol, questioning its compatibility with the Petroleum Industry Act 2021.
- Atiku recently proposed a production subsidy to lower pump prices, but the APC-PCC argues that Section 205 of the Petroleum Industry Act mandates unrestricted free-market conditions for petroleum pricing.
- The council estimated the intervention could cost between N17 trillion and N21 trillion annually, warning that without enforceable price mechanisms, refiners might receive support while consumers continue paying market rates.
- Spokesperson Dele Alake defended the Tinubu administration's deregulated market approach, highlighting the conversion of more than 120,000 vehicles to Compressed Natural Gas as an alternative to reduce transportation costs.
- The council urged Atiku to publish a detailed policy document and independent fiscal analysis, warning the proposal could revive fiscal difficulties for state governments and increase smuggling risks.
11 Articles
11 Articles
Atiku’s petrol subsidy plan lacks legal framework
The All Progressives Congress Presidential Campaign Council (APC-PCC) has questioned the legal basis of the presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar’s proposed production subsidy for locally refined petrol. According to the APC, the plan has no clear legal framework and may fail to reduce fuel prices for Nigerians. The council made […] Atiku’s petrol subsidy plan lacks legal framework – APC
APC challenges Atiku to explain legal, fiscal basis of petrol subsidy proposal
The APC campaign council asked Atiku to disclose the proposed subsidy rate, annual spending ceiling, volume of crude oil or petrol to be covered, funding source, and safeguards against diversion, smuggling, and fraudulent claims.
APC Presidential Campaign Council Seeks Atiku's Explanation On Petrol Subsidy Proposal
APC Presidential Campaign Council Seeks Atiku’s Explanation On Petrol Subsidy Proposal The All Progressives Congress (APC) Presidential Campaign Council has called on former Vice President Atiku Abubakar to clarify the legal and fiscal basis for his proposal to reintroduce the petrol subsidy if elected President of Nigeria in 2027. Atiku is the presidential candidate of the opposition African Democratic Congress (ADC).The former number two citiz…
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