Kenneth Okonkwo Hails Atiku, Defends Subsidy Plan

Kenneth Okonkwo, spokesperson for the 2027 presidential campaign of former Vice-President Atiku Abubakar, has defended his principal’s proposed petrol subsidy policy, saying it is designed to reduce fuel prices and ease the economic burden on Nigerians.

Okonkwo, an actor-turned-politician, made the remarks during an appearance on Channels Television’s Sunday Politics, where he challenged criticism of Atiku’s proposal and argued that the plan differed from Nigeria’s previous fuel import subsidy regime.

Atiku, the African Democratic Congress (ADC) presidential candidate, had said he would restore petrol subsidy if elected in 2027, reigniting debate over the policy and its implications for public finances.

Okonkwo argued that the removal of petrol subsidy by President Bola Tinubu’s administration had contributed to rising living costs, with higher fuel prices affecting transportation, food prices, production and household spending.

He maintained that Nigerians had not experienced sufficient benefits from the savings generated by the subsidy removal, pointing to the pressure of rising prices on workers and households.

According to Okonkwo, Atiku’s proposal would focus on making crude oil available to domestic refineries at affordable rates, thereby lowering production costs and enabling refiners to sell petroleum products at more accessible prices.

He insisted that the plan was not a return to the former system of subsidising imported petrol, which had attracted criticism over its cost, transparency and management.

Okonkwo also criticised the Tinubu administration’s handling of the economy, arguing that increases in nominal wages had not translated into improved purchasing power because of inflation and the depreciation of the naira.

He compared the value of the former minimum wage with the current statutory minimum wage, contending that workers continued to struggle to meet basic needs despite earning higher nominal amounts.

The campaign spokesperson said reducing energy costs would help businesses, transport operators and households while supporting economic activity.

However, the proposal has attracted criticism from the ruling All Progressives Congress, which has questioned its legal framework, funding arrangements and potential impact on government revenue.

The debate over subsidy policy has become a significant issue ahead of the 2027 general elections, with competing arguments centred on fuel affordability, public spending, domestic refining and the broader cost of living.