Former Vice President Atiku Abubakar has urged President Bola Ahmed Tinubu to reduce fuel taxes to alleviate the economic hardship faced by Nigerians. In a statement, Atiku said the Tinubu administration had failed to protect ordinary Nigerians from severe economic hardship, one of the government's fundamental responsibilities. He noted that Nigerian families are struggling with the cost of food, transportation, and other basic necessities.
Atiku criticized President Tinubu's Independence Day address, saying it failed to reflect the daily realities confronting Nigerians. He argued that the government has continued to defend policies that have contributed to higher living costs, offering excuses rather than relief. Atiku also challenged the President's claim that salaries and pensions had been paid "on time and in full," citing reports of delays affecting federal workers and protests by pensioners.
The former vice president drew attention to Germany, which reduced gasoline and diesel taxes by €0.17 per litre from October through December at an estimated cost of €2.5 billion. This move led to a decline in pump prices, demonstrating how government intervention can ease the pressure on households. Atiku said Nigerians deserved similar government attention and urgency in responding to the impact of fuel prices on household budgets.
Atiku outlined an alternative approach, proposing targeted and budgeted support for fuel refined domestically, subject to strict auditing and mechanisms to ensure that the benefit translates into lower pump prices. The proposed support would be tied to fuel refined in Nigeria, aiming to support local production and employment while reducing costs for consumers. This scheme would be funded through reductions in government waste.
According to Atiku, the German example shows that government intervention can make a positive impact when fuel costs place additional pressure on households. He said that when petrol becomes more expensive, transport becomes more expensive, and when transport costs rise, food and other essentials cost more. This hardship follows Nigerians from the filling station to the market and into their homes.
Atiku expressed sympathy for Nigerians facing difficult choices amid rising costs, saying his administration would seek to make living expenses more affordable. He accused the Tinubu administration of making life increasingly expensive while presenting the resulting hardship as the cost of economic reform. Atiku believes that lower fuel costs could translate into reduced transport fares, more affordable goods, and increased disposable income for households.
Atiku's proposal aims to support Nigerians struggling with economic hardship. Key aspects of his plan include reducing fuel costs and increasing government support for domestically refined fuel. The goal is to make living expenses more affordable for Nigerians.
Key points
- Atiku Abubakar urges President Tinubu to emulate Germany's approach of reducing fuel taxes.
- Atiku proposes targeted support for domestically refined fuel to reduce costs for consumers.
- The former vice president criticizes the Tinubu administration's handling of economic hardship.
