₦airaland Forum

Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to replace petrol import subsidies with a production-focused subsidy aimed at lowering fuel costs, boosting domestic refining and reducing the cost of living.

Atiku, in a post on X, said his proposed policy would support crude oil refined in Nigeria rather than use public funds to make imported petrol cheaper.

He said the objective was to enable local refineries to produce fuel at lower costs, create jobs and ultimately reduce the amount Nigerians spend on petrol and transportation.

“I am not restoring subsidy so that Nigeria can keep paying for imported petrol. I am restoring subsidy so that Nigerians can produce more at home, pay less for fuel, and keep more money in their pockets,” he said.

The ADC candidate distinguished between what he called “import subsidy” and “production subsidy”, using the shoe-making industry in Aba as an illustration.

According to him, instead of spending public funds to make imported shoes cheaper, government should support local shoemakers to reduce their production costs, increase output and employ more Nigerians.

“I choose the Aba shoemaker. I will do the same with fuel,” Atiku said.

He said his administration would support domestic crude refining to enable Nigerian refineries to produce petrol more cheaply.

Atiku said the policy would be part of a broader strategy to reduce the cost of living, arguing that cheaper fuel would have a direct effect on transportation, food prices and the operating costs of small businesses.

He said his goal was to reduce the cost of daily economic activities for households and businesses.

“I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down,” he said.

“I want the trader to spend less. I want the barber, tailor, welder and small business owner to spend less on energy.”

Bobloco:
Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to replace petrol import subsidies with a production-focused subsidy aimed at lowering fuel costs, boosting domestic refining and reducing the cost of living.

Atiku, in a post on X, said his proposed policy would support crude oil refined in Nigeria rather than use public funds to make imported petrol cheaper.

He said the objective was to enable local refineries to produce fuel at lower costs, create jobs and ultimately reduce the amount Nigerians spend on petrol and transportation.

“I am not restoring subsidy so that Nigeria can keep paying for imported petrol. I am restoring subsidy so that Nigerians can produce more at home, pay less for fuel, and keep more money in their pockets,” he said.

The ADC candidate distinguished between what he called “import subsidy” and “production subsidy”, using the shoe-making industry in Aba as an illustration.

According to him, instead of spending public funds to make imported shoes cheaper, government should support local shoemakers to reduce their production costs, increase output and employ more Nigerians.

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“I choose the Aba shoemaker. I will do the same with fuel,” Atiku said.


He said his administration would support domestic crude refining to enable Nigerian refineries to produce petrol more cheaply.

Atiku said the policy would be part of a broader strategy to reduce the cost of living, arguing that cheaper fuel would have a direct effect on transportation, food prices and the operating costs of small businesses.

He said his goal was to reduce the cost of daily economic activities for households and businesses.

“I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down,” he said.

“I want the trader to spend less. I want the barber, tailor, welder and small business owner to spend less on energy.”

https://thenationonlineng.net/atiku-defends-subsidy-return-plan/amp/

Osgilliat:
Atiku still doesn’t get it. He knows he has messed up with his declaration of bringing back subsidy now he is trying to twist the narratives. He shouldn’t be talking about supporting local refineries he should be talking about how he plans to curb fuel smuggling to other countries if he is to bring back subsidy. Because smuggling is the biggest issue in the subsidy regime.

Educationalserv:
he didn't mess up when subsidy return if you lilke pay higher to show over lasting support for Failure Tinibu.

Crude oil was given free to Nigeria by God . If must be proceed in Nigeria for a Nigerian
440,000 barrels is meant to be proceed locally
Saudis process 700,000 barrels for local consumption at affordable rent .
The essence of govt is for wellbeing of citizens
Not wellbeing of Lebanese handling Costal road

Osgilliat:
Atiku still doesn’t get it. He knows he has messed up with his declaration of bringing back subsidy now he is trying to twist the narratives. He shouldn’t be talking about supporting local refineries he should be talking about how he plans to curb fuel smuggling to other countries if he is to bring back subsidy. Because smuggling is the biggest issue in the subsidy regime.

Bobloco:
https://thenationonlineng.net/atiku-defends-subsidy-return-plan/amp/

AsomughaChuks02:
So after bringing back subsidy, will Atiku reverse the wage increases already implemented across board because govt revenue will certainly drop sharply and trans border smuggling of cheaper petroleum to Niger republic, Chad, Sudan etc will resume.

razzydoo:
You're doing harm to our Refinery with your declaration, which many people are now already invested in. So, many especially institutional investors like Ote$ and other heavyweights would prevent your election. It's that straightforward.

Ironbull:
I have no issue with atiku ag least he is trying his luck and working so hard like a serious politician that mean business not like obi busy with comedy N4m sit, busy with oseni and those unecessary distraction stuffs in just 90 days to the election.

CrownedPhoenix:
Stockholm Syndrome.

You're here defending institutional investors against your very own self.

Pathetic.

AsomughaChuks02:
So after bringing back subsidy, will Atiku reverse the wage increases already implemented across board because govt revenue will certainly drop sharply and trans-border smuggling of cheaper petroleum products to Niger republic, Chad, Sudan etc will resume.

razzydoo:
You're doing harm to our Refinery with your declaration, which many people are now already invested in. So, many especially institutional investors like Ote$ and other heavyweights would prevent your election. It's that straightforward.