Atiku Says He Would Restore Fuel Subsidy if Elected President

ABUJA, Nigeria (XOL Africa) — Former Nigerian Vice President Atiku Abubakar said Wednesday that he would restore the country’s fuel subsidy if elected president, arguing that funds saved from its removal under President Bola Tinubu have not been used to improve the lives of Nigerians.

Abubakar, who is seeking the presidency, said he did not oppose the decision to remove the subsidy but questioned how the resulting savings have been spent.

“I didn’t oppose the removal of subsidy. But where is the money?” Abubakar said during an interview with journalists.

He said the money saved should have been directed toward tackling poverty, improving education and addressing the number of children out of school, among other priorities.

“The subsidy was removed to improve education, security, poverty and other things. I will return the subsidy,” he said.

Abubakar alleged that the funds saved through the policy had been stolen, without providing evidence to substantiate the claim.

“Where is the money? They stole it,” he said.

The presidency was not immediately available for comment on the allegation.

Tinubu removed the fuel subsidy after taking office in May 2023, a decision that sharply increased petrol prices and has remained a major source of political and economic debate in Nigeria.

Abubakar said his position on the subsidy had received support from some former leaders of the Nigerian National Petroleum Corp., now known as NNPC Ltd., following discussions he said took place recently.

“Five past leaders of NNPC called me and said, ‘We didn’t agree when you sketched your plan, but now we agree,’” Abubakar said.

“They said they made a mistake, not me. Until you have power, those things cannot be done,” he added.

Abubakar, a former vice president who has contested Nigeria’s presidency several times, said any decision on fuel subsidies should ultimately be linked to broader measures aimed at improving living standards and strengthening public services.