2027: I’ll Restore Fuel Subsidy If Elected President — Atiku

Former Vice President and 2027 presidential candidate of the African Democratic Congress, Atiku Abubakar, has promised to restore Nigeria’s fuel subsidy regime if elected President in 2027.

Atiku criticised the removal of the subsidy by President Bola Tinubu’s administration, arguing that the policy had failed to deliver meaningful benefits to Nigerians.

Tinubu announced the removal of the petrol subsidy during his inauguration speech in May 2023, triggering a sharp increase in fuel prices and contributing to higher transportation and living costs across the country.

The Federal Government has continued to defend the policy, arguing that subsidy removal has created additional resources for the government, increased allocations to states and enabled greater investment in infrastructure and other sectors.

Atiku, however, said the benefits of the subsidy removal had not been sufficiently demonstrated to Nigerians.

Speaking in an interview shared on social media, the former vice president said he had initially supported the decision to remove the subsidy but now questioned what happened to the resources previously spent on the programme.

“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money? Where has the subsidy money gone? Has it been used to improve healthcare, education or security?” Atiku asked.

He subsequently pledged to reverse the policy if elected president in the 2027 presidential election.

“If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money,” he said.

Atiku’s position represents a shift from his earlier stance on the subsidy, which he had previously indicated could be removed under certain conditions.

The former vice president is expected to make economic reforms and the rising cost of living major issues in his campaign as he seeks to unseat President Tinubu.

The 2027 presidential contest is expected to feature several major political figures, with Atiku seeking the presidency under the African Democratic Congress.

President Tinubu is expected to seek re-election on the platform of the All Progressives Congress, while former Anambra State Governor Peter Obi is also expected to contest the presidency.

Atiku’s pledge to restore the subsidy is likely to intensify the debate over the economic consequences of its removal, with supporters arguing that subsidy reform was necessary to reduce government expenditure and critics insisting that the savings have not translated sufficiently into improved living conditions.

The former vice president maintained that any government benefiting from the resources generated by subsidy reforms must be able to account for how the money was spent.