Fuel subsidy: For three years, Nigerians have been told to endure
Atiku says the plan would cut crude costs for Nigerian refineries while using safeguards to prevent fraud and keep private producers profitable.
- On Friday, Former Vice President Atiku Abubakar clarified his production subsidy proposal via Senior Special Assistant Phrank Shaibu, aiming to lower fuel costs for Nigerians by supporting domestic refining rather than subsidizing importers.
- Atiku argued that his model differs from import-focused systems by tying support to crude processed domestically, helping Nigerian refineries produce competitively while reducing the economic burden on businesses.
- Addressing concerns from Dangote Refinery regarding pump-price controls, Atiku stated his proposal would not force producers to sell below cost, affirming that legitimate business concerns raised by Dangote should not be distorted.
- The Tinubu administration has allegedly misrepresented his proposal to discredit the initiative, prompting Atiku to urge The Presidency to debate the substance rather than, in his words, "inventing a policy" for him.
- Rejecting the trade-off between refinery profits and affordable prices, he insisted that if The Presidency seeks additional consumer relief beyond production savings, the government must openly fund that Intervention directly.
14 Articles
14 Articles
Atiku backs Dangote, says subsidy proposal only for local refineries
By Omeiza Ajayi ABUJA: Former Vice President Atiku Abubakar has thrown his weight behind Dangote Refinery’s warning against arbitrary pump-price controls, insisting that his proposed production subsidy would protect Nigerian refineries and reduce domestic production costs without forcing them to sell at a loss. In a statement issued by his Senior Special Assistant on Public […]
Fuel subsidy: For three years, Nigerians have been told to endure
Former Vice President Atiku Abubakar has accused the Tinubu administration of applying double standards in its approach to government intervention in the economy, arguing that support for domestic fuel production should not be treated differently from tax waivers and incentives granted to businesses. Atiku, in a statement issued by his Senior Special Assistant on Public […] Fuel subsidy: For three years, Nigerians have been told to endure – Atiku
Presidency knocks Atiku’s refinery subsidy proposal, cites Obasanjo-era failure - TV360 Nigeria
Tinubu aide says similar policy was tested under Obasanjo and abandoned after refinery output slumped…. The Presidency has challenged former Vice-President Atiku Abubakar’s proposal for the government to subsidise crude supplied to local refineries, arguing that a similar policy was attempted during his time in office and produced poor results. Otega Ogra, Senior Special Assistant …
Atiku vows to restore fuel subsidy through local refining, says Nigerians will pay less
Former Vice President, Atiku Abubakar, has pledged to restore fuel subsidy through support for locally refined petroleum products, insisting that the policy would reduce transportation costs, ease food prices and improve the standard of living of Nigerians. In a post shared on his X account on Friday, Atiku said his
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