Former Vice President Atiku Abubakar has stated that 67.4% of Nigerians want the fuel subsidy restored, citing a recent SBM Intelligence survey. According to Atiku, the survey reflects growing concerns over the impact of fuel prices on household incomes, transportation, and businesses. He described the reported figure as a strong indication that Nigerians are seeking measures to ease the economic pressure associated with rising petrol prices.
Atiku's statement, released on Tuesday in Abuja, emphasized that the survey goes beyond an assessment of fuel policy, highlighting the broader economic difficulties confronting households across the country. He argued that the survey's findings reflect the difficulties faced by families, workers, farmers, and businesses due to high energy and transportation costs. Atiku also cited the survey's reported finding that petrol ranked as the second-most cited national problem and was the administration's worst-rated policy issue.
The former Vice President pointed to regional variations in the survey, noting that 32.4% of rural respondents identified petrol as their primary concern, compared with 11.7% of urban respondents. Petrol was also the leading concern in the South-West, at 30.5%, and South-South, at 29.1%. Atiku argued that the figures show that concerns over fuel prices cut across different parts of the country.
Atiku accused the administration of failing to adequately address the consequences of the subsidy removal and argued that the government should provide greater protection for vulnerable Nigerians. He rejected attempts to rely on macroeconomic indicators and the administration's Compressed Natural Gas programme while Nigerians continue to contend with high fuel and transportation costs.
Atiku proposed an alternative intervention, which would not amount to a return to the previous subsidy regime. Instead, he suggested introducing a transparent production subsidy for petroleum products refined domestically and sold to Nigerians if elected president in 2027. The programme would have a fixed spending limit, National Assembly approval, and independent audits.
Atiku called on the Tinubu administration to provide immediate relief to Nigerians, arguing that the government should not treat the hardship associated with its economic reforms as unavoidable. He stated that the people have spoken, and the 67.4% figure is a vote against Tinubu's policies and a mandate for Atiku's alternative.
Atiku concluded by saying that President Tinubu made life expensive, and he will make life affordable again. His proposed intervention aims to reduce fuel prices, strengthen domestic refining, create Nigerian jobs, and restore the purchasing power that this administration has destroyed.
Key points
- 67.4% of Nigerians want fuel subsidy restored, according to SBM Intelligence survey.
- Atiku proposes transparent production subsidy for petroleum products refined domestically.
- Atiku calls on Tinubu administration to provide immediate relief to Nigerians.
