Discount: Tinubu Copying My Subsidy Model — Atiku

Former Vice-President Atiku Abubakar has accused President Bola Tinubu of adopting his proposal for a targeted subsidy on locally refined petrol but reducing it to a temporary 30-day discount.

Atiku made the allegation on Friday in Abuja during the inauguration of the African Democratic Congress (ADC) Presidential Campaign Council ahead of the 2027 general election.

He argued that the Federal Government’s recent decision to offer discounted petrol at Nigerian National Petroleum Company Limited (NNPC) retail outlets reflected the principle behind his earlier proposal, which he said the administration had previously criticised.

“Bola, you have borrowed the idea but missed the lesson. You had a production subsidy and reduced it to a 30-day gesture,” Atiku said.

The former presidential candidate maintained that the government’s intervention would provide only temporary relief without addressing the underlying factors driving high fuel prices and the rising cost of living.

He questioned what would happen when the discount expires, arguing that Nigerians would remain exposed to high transport fares, food prices and business operating costs.

Atiku has proposed a targeted production subsidy for petrol refined in Nigeria. Under his plan, the support would be capped, provided for in the national budget and subjected to independent audits. He has also advocated excluding imported finished petroleum products from the arrangement.

According to him, supporting locally refined petrol could strengthen domestic refining, reduce dependence on imported fuel and ease pressure on consumers.

The Federal Government recently announced a 30-day discount on petrol sold at NNPC retail outlets as part of measures to cushion the impact of rising energy costs. The company initially offered a reduction of ₦66 per litre and subsequently extended the promotion until October 31.

Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, has maintained that the arrangement is not a return to the former petrol subsidy regime. He said NNPC would forgo its retail profit margin and sell petrol at cost during the promotional period.

The government has also proposed a wholesale petrol price ceiling of about ₦1,350 per litre, with refiners and importers expected to absorb temporary cost increases and recover the difference when market conditions improve.

Atiku called on Tinubu to explain the sustainability of the intervention, insisting that Nigerians needed lasting relief rather than a short-term discount.

The dispute has placed fuel pricing and the future of government support for domestic refining at the centre of the emerging debate ahead of the 2027 presidential election.