Former Vice President Atiku Abubakar has expressed concerns over President Bola Tinubu's fuel policy, citing a survey by SBM Intelligence that indicates widespread dissatisfaction among Nigerians. According to the survey, 67.4% of respondents want the Federal Government to restore petrol subsidy. Atiku's statement, issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, highlights the economic challenges faced by Nigerians following the removal of subsidy.
The survey results show that petrol is the second-most cited national problem and the Tinubu administration's worst-rated policy issue, scoring 1.69 out of four. Atiku emphasized that the impact of higher fuel prices is reflected in increased transportation costs, food prices, and operating expenses for businesses. He also noted regional variations in the survey, with 32.4% of rural respondents identifying petrol as their primary concern, compared to 11.7% of urban respondents.
Atiku criticized the government's decision to remove subsidy, arguing that it was implemented without adequate measures to protect households, businesses, and domestic production from the resulting economic pressures. He rejected attempts to justify the policy using economic statistics and the Federal Government's compressed natural gas (CNG) programme. Atiku emphasized that Nigerians do not benefit from GDP figures or presidential promises.
Atiku proposed an alternative to the current policy, suggesting a production subsidy for petroleum products refined in Nigeria and sold domestically. This scheme would exclude imported petroleum products, have a fixed spending limit, require National Assembly approval, and be subject to independent audits. The goal is to reduce fuel prices, support domestic refining, create jobs, and improve purchasing power.
According to Atiku, the proposed scheme would address the concerns of Nigerians, who are seeking relief from higher petrol and transportation costs. He emphasized that the 67.4% demanding relief represents a democratic majority, and his office will work to replace Tinubu's policy with one that prioritizes production, protection, and affordability.
Atiku urged the Federal Government to provide immediate relief to Nigerians during the remainder of Tinubu's tenure. He emphasized that responsible leadership must listen to the concerns of the majority and take action to address their needs. The survey figures and their interpretation cited in Atiku's statement are attributed to his office.
The issue has sparked a debate about the government's economic policies and their impact on Nigerians. Atiku's statement highlights the need for a more nuanced approach to economic reform, one that prioritizes the well-being of citizens. The Federal Government's response to Atiku's concerns remains to be seen.
Key points
- - 67.4% of Nigerians reject President Tinubu's fuel policy, according to a survey by SBM Intelligence. - Atiku Abubakar proposes a production subsidy for petroleum products refined in Nigeria and sold domestically. - The issue has sparked a debate about the government's economic policies and their impact on Nigerians.
