Atiku Fires Back at Tinubu Over ‘Ignorant’ Fuel Subsidy Comment

Former Vice President Atiku Abubakar has hit back at President Bola Tinubu over his criticism of Atiku’s proposal to introduce a targeted intervention in Nigeria’s petroleum sector.

Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, accused the Tinubu administration of worsening the cost-of-living crisis while celebrating increased government revenues.

He said Tinubu was not in a position to lecture Nigerians on economic management after the removal of petrol subsidy, foreign exchange liberalisation and the resulting increases in inflation, transport fares and household expenses.

Atiku argued that his proposal was not a return to the previous subsidy regime but a targeted, temporary and independently audited production-support mechanism aimed at boosting domestic refining and shielding consumers from severe price shocks.

He said economic policies must respond to changing circumstances, arguing that the conditions Nigerians face today are different from those that existed when the subsidy was removed in May 2023.

The former vice president also questioned the Federal Government’s explanation of petroleum-sector costs, asking why under-recoveries and energy-security expenses remain if subsidy has been completely eliminated.

Atiku accused the government of giving Nigerians the hardship associated with subsidy removal while retaining what he described as opaque costs within the petroleum sector.

He also rejected the argument that increased Federation Account allocations to states automatically demonstrate the success of the reforms, saying higher government revenues mean little if citizens are losing purchasing power.

According to him, economic reform should ultimately be measured by its impact on Nigerians rather than the amount of money accruing to government.

Atiku maintained that his proposed intervention would support domestic production, reduce excessive price shocks and gradually limit dependence on government subsidies.

The Federal Government, however, has consistently defended subsidy removal as necessary to eliminate financial distortions, strengthen public revenues and redirect resources towards development.

Atiku urged Nigerians to critically assess the impact of the administration’s economic policies ahead of the 2027 presidential election.