Fuel Subsidy: Atiku a ‘Voodoo Economist’, Not a Leading Presidential Candidate

Minister of the Federal Capital Territory, Nyesom Wike, has described former Vice President Atiku Abubakar as a “voodoo economist” and dismissed him as a leading contender in the 2027 presidential election.

Wike made the remarks on Wednesday while responding to journalists during an inspection of ongoing road projects in the Federal Capital Territory.

The minister was reacting to Atiku’s recent pledge to restore the petrol subsidy if elected president in 2027.

Atiku, the presidential candidate of the African Democratic Congress, had questioned what happened to the savings generated from the removal of the subsidy and argued that the funds should have been used to reduce poverty and improve education and other sectors.

He also pledged to restore the subsidy and recover funds allegedly misappropriated under the previous arrangement.

Wike, however, faulted the former vice president’s position, noting that Atiku had previously advocated the removal of the subsidy.

According to him, Atiku’s change of position demonstrated inconsistency and raised questions about his economic policy.

“I disagree with you that Atiku is one of the leading candidates,” Wike said, insisting that President Bola Tinubu was the only leading candidate ahead of the 2027 election.

The minister also argued that the opposition remained too divided to effectively challenge the ruling All Progressives Congress.

He said there was stronger opposition against the APC in 2023 than currently, claiming that no opposition coalition had emerged with a clear objective of removing the present administration from power.

Wike further criticised Atiku’s proposal to restore the subsidy, questioning how such a policy could work under the current structure of Nigeria’s petroleum industry.

He referred to the commercialisation of the Nigerian National Petroleum Company Limited under the Petroleum Industry Act and questioned whether the government would subsidise fuel produced by private refiners such as the Dangote Refinery.

“Is he going to give fuel subsidy to the Dangote Refinery?” Wike asked, arguing that Atiku should instead explain how savings from subsidy removal could be better utilised.

Wike also defended the Tinubu administration’s decision to remove the subsidy, saying the resulting increase in allocations had improved the financial position of states and local governments.

He claimed that the additional resources had helped governments meet obligations such as salaries and pensions, which he said were previously difficult to pay.

The minister maintained that Atiku had little to offer Nigerians ahead of the 2027 election and expressed confidence that Tinubu would retain power.

Wike’s comments add to the growing political exchanges ahead of the 2027 presidential election, with opposition figures increasingly challenging the economic policies and political record of the Tinubu administration.