Former Vice President Atiku Abubakar has stated that a recent SBM Intelligence survey reveals that a majority of Nigerians have rejected the current fuel policy and are demanding relief from the high cost of living. According to the survey, 67.4% of respondents want the petrol subsidy restored. Atiku's Senior Special Assistant on Public Communication, Mr. Phrank Shaibu, released a statement on Tuesday, citing the survey's findings. The statement emphasized that this figure represents the majority of Nigerians seeking an alternative approach to managing fuel pricing and cost of living.
Atiku noted that the survey reflects concerns of families over food prices, transportation costs, and businesses affected by fuel and energy costs. He stated that transport costs, food prices, and purchasing power have been affected since the fuel subsidy removal. The survey confirms public concerns, with petrol emerging as the second-most cited national problem and the administration's worst-rated policy issue, scoring 1.69 out of four in the survey. Atiku emphasized that the survey is no longer merely about economic policy but has become a democratic question.
The presidential candidate of the African Democratic Congress (ADC) highlighted that the survey is revealing, with 32.4% of rural respondents identifying petrol as a primary concern, compared with 11.7% in urban areas. Petrol also emerged as the leading concern in the Southwest at 30.5% and South-South at 29.1%, indicating that concerns cut across regions. Atiku criticized President Bola Tinubu for removing the subsidy without adequate plans for domestic refining, mass transportation, and wage protection.
Atiku called on the Federal Government to provide relief and address rising cost of living concerns. He proposed introducing a transparent production subsidy tied to petroleum products refined in Nigeria and sold to Nigerians. This proposed intervention would not revive the past subsidy regime but rather introduce a new approach with a fixed spending limit, National Assembly approval, and independent audits. The goal is to reduce fuel prices, strengthen domestic refining, create Nigerian jobs, and restore purchasing power.
Atiku's proposed subsidy program would ensure that imports do not qualify, and its purpose would be to address the concerns raised in the survey. He emphasized that Nigerians do not care about GDP figures and that any economic reform that does not improve people's lives has failed. Atiku's statement reiterated his commitment to addressing the concerns of Nigerians and providing relief from the high cost of living.
The SBM Intelligence survey's findings have significant implications for the government's fuel policy. Atiku's call for relief and alternative approaches to managing fuel pricing and cost of living is likely to resonate with many Nigerians. The government's response to the survey's findings and Atiku's proposals remains to be seen. The issue has become a pressing concern, with many Nigerians demanding action from the government.
Atiku concluded by reiterating his commitment to introducing a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians if elected. He stated that this would be implemented from May 29, 2027, and would have a fixed spending limit, National Assembly approval, and independent audits. Atiku's proposal aims to address the concerns of Nigerians and provide relief from the high cost of living.
Key points
- 67.4% of Nigerians want petrol subsidy restored, according to a recent SBM Intelligence survey.
- Atiku Abubakar proposes introducing a transparent production subsidy tied to petroleum products refined in Nigeria and sold to Nigerians.
- The survey reflects concerns of families over food prices, transportation costs, and businesses affected by fuel and energy costs.
