Fuel Discount: Atiku Accuses Tinubu of Turning NNPCL Into Campaign Money Cashier

Former Vice-President Atiku Abubakar has accused President Bola Tinubu of turning the Nigerian National Petroleum Company Limited (NNPCL) into what he described as a campaign money cashier through its recently announced petrol discount.

Atiku criticised the Federal Government’s decision to offer a temporary reduction in petrol prices at NNPCL retail outlets, arguing that the initiative was politically motivated and insufficient to address the economic hardship facing Nigerians.

The African Democratic Congress (ADC) presidential candidate made the remarks amid growing debate over the government’s decision to extend a ₦66-per-litre discount on petrol sales at NNPCL filling stations until October 31.

Atiku argued that the intervention came after years of rising fuel prices and declining purchasing power, questioning whether the government intended to provide lasting relief or gain political advantage ahead of the 2027 elections.

He also accused Tinubu of adopting his proposal for a targeted subsidy on locally refined petroleum products after previously dismissing it, but reducing the idea to a short-term discount.

At the inauguration of the ADC Presidential Campaign Council in Abuja on Friday, Atiku said the government’s approach lacked the structure needed to provide sustainable relief.

He proposed a production subsidy for petroleum products refined in Nigeria and sold to Nigerians, with spending capped, included in the national budget and subjected to independent audits. He also called for imported finished petroleum products to be excluded from the arrangement.

According to Atiku, the proposal would support domestic refining while helping to reduce fuel costs and their effects on transportation, food prices and business operations.

The Federal Government has rejected the suggestion that the discount represents a return to the former petrol subsidy regime. Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said NNPCL would forgo its retail profit margin and sell petrol at cost during the promotional period.

The Presidency said the intervention was intended to cushion the impact of rising international crude oil prices and volatility in domestic fuel costs.

NNPCL also maintained that the discount was a temporary customer-relief initiative and did not change Nigeria’s market-based petrol pricing framework.

Atiku, however, questioned what would happen when the discount expires, insisting that Nigerians need a transparent, adequately funded and sustainable policy to ease the cost of living.

The disagreement has added fuel pricing and the management of public resources to the issues expected to feature prominently in the run-up to the 2027 general election.