Presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has urged President Bola Tinubu to consider a proposed policy to alleviate multifaceted sufferings of Nigerians through a phased crashing of prices of petroleum products. Atiku lamented that since the inauguration of the Tinubu administration on May 29, 2023, Nigerians have lived with the consequences of the removal of petrol subsidy without adequate protection for families, workers, farmers, and businesses during the transition.
Atiku stated that the burden of expensive petrol has travelled from the petrol station to the bus stop, from the bus stop to the market, and from the market to the family dining table. He said when petrol becomes expensive, transportation becomes expensive, and when transportation becomes expensive, food becomes expensive. Farmers pay more to move produce, traders pay more to stock their shops, workers pay more to get to work, and businesses pay more for logistics and energy.
The former Vice President reiterated his argument that the government should review its approach to the withdrawal of petrol subsidy and consider responsible intervention to bring down the cost of fuel. He reminded President Tinubu that he has approximately eight months remaining in office and called on the President to act now by using those eight months to give Nigerians relief. Atiku emphasized that leadership requires the humility to confront the consequences of policy and the courage to change course.
Atiku urged President Tinubu not to be ashamed to adopt his proposal to lower the price of petrol simply because he proposed it. He suggested that the President could rename the policy if he wishes and even take credit for it. Atiku emphasized that what matters is that Nigerians pay less for petrol. He noted that a sensible idea does not become a bad idea because it came from an opponent.
Atiku warned that the provision of palliatives is just temporary relief and not a solution. He stated that if responsible intervention can lower prices, the government should intervene, and if changing course can help Nigerian families, the government should change course. Atiku expressed worries that the Tinubu administration continues to introduce policies that compound the economic woes of Nigerians.
The ADC presidential candidate expressed concerns about the planned phase-out of electricity subsidies from 2027. He noted that across factories, production costs are rising while unsold goods pile up in warehouses. Atiku emphasized that electricity is already expensive, and families are calculating how long their units will last. He warned that the lesson of petrol must not be repeated with electricity.
If elected, Atiku promised to introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians from May 29, 2027. He emphasized that his goal is to alleviate the sufferings of Nigerians and ensure that they have access to affordable energy. Atiku's proposal aims to address the economic challenges facing Nigerians.
Key points
- Atiku Abubakar urges President Tinubu to adopt his policy to crash petrol prices.
- Atiku warns that the provision of palliatives is just temporary relief and not a solution.
- Atiku promises to introduce a transparent production subsidy for petroleum products if elected.
