Former Vice President Atiku Abubakar has cited a recent SBM Intelligence survey, which found that 67.4% of Nigerians want the petrol subsidy restored. The survey reflects growing concerns over the impact of fuel prices on household incomes, transportation, and businesses. Atiku described the figure as a strong indication that Nigerians are seeking measures to ease the economic pressure associated with rising petrol prices.
According to Atiku, the survey goes beyond an assessment of fuel policy, arguing that it reflects the broader economic difficulties confronting households across the country. He stated that the survey is no longer merely about economic policy but has become a democratic question. Atiku emphasized that when an overwhelming majority of Nigerians declare that a government policy is destroying their lives, responsible leadership must listen.
The SBM Intelligence survey reportedly found that petrol ranked as the second-most cited national problem and was the administration's worst-rated policy issue, with a score of 1.69 out of four. Atiku said the reported findings were consistent with the difficulties faced by families, workers, farmers, and businesses as a result of high energy and transportation costs. He pointed to the devastating impact of the subsidy removal on Nigerians, citing exploded transport costs, soaring food prices, and collapsed businesses.
Atiku highlighted regional variations in the survey, noting that 32.4% of rural respondents reportedly identified petrol as their primary concern, compared with 11.7% of urban respondents. Petrol was also reportedly the leading concern in the South-West, at 30.5%, and South-South, at 29.1%. Atiku argued that the figures showed 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 continued to contend with high fuel and transportation costs. Atiku emphasized that Nigerians do not eat GDP figures and that a mother cannot take FAAC allocations to the market.
Atiku proposed a transparent production subsidy for petroleum products refined domestically and sold to Nigerians if elected president in 2027. He stated that imports would not qualify, and the programme would have a fixed spending limit, National Assembly approval, and independent audits. The programme's purpose would be to reduce fuel prices, strengthen domestic refining, create Nigerian jobs, and restore the purchasing power that this administration has destroyed.
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% is a vote against Tinubu's cruelty and a mandate for Atiku's alternative. Atiku concluded that Tinubu made life expensive, and he would make life affordable again.
Key points
- 67.4% of Nigerians want the petrol subsidy restored, according to a recent SBM Intelligence survey.
- Atiku Abubakar proposes a transparent production subsidy for petroleum products refined domestically and sold to Nigerians.
- The survey reflects growing concerns over the impact of fuel prices on household incomes, transportation, and businesses.
