Harry Archie
Former Vice-President Atiku Abubakar’s campaign has indicated that a government led by him would restore petrol subsidy before gradually phasing out the policy.
The proposal has emerged as one of the major economic issues likely to shape political debates ahead of Nigeria’s 2027 presidential election.
An aide to the former vice-president said the proposed approach would be aimed at cushioning the effect of the removal of petrol subsidy on Nigerians while creating a transition towards a system in which the government would no longer bear the cost of subsidising petrol.
The subsidy was removed by President Bola Tinubu shortly after he assumed office in May 2023, in a move the Federal Government said was necessary to reduce pressure on public finances and redirect resources to other areas of the economy.
However, the policy immediately triggered a significant increase in petrol prices, transportation costs and the prices of many goods and services.
For millions of Nigerians, particularly low-income households, the removal of the subsidy has remained one of the most controversial economic policies of the Tinubu administration.
Atiku’s proposed approach would therefore represent a significant departure from the current policy direction.
Under the proposal outlined by his aide, the government would first provide relief through the restoration of subsidy before introducing measures aimed at gradually eliminating it.
The argument is that a phased approach would give households and businesses more time to adjust to changes in fuel prices.
The proposal comes as the cost of living remains a central issue in Nigeria’s political debate.
Food prices, transportation costs, electricity expenses and other household expenditures have become major concerns for voters, making economic policy likely to be one of the most important issues in the 2027 campaign.
Atiku, who has previously criticised aspects of the Federal Government’s economic policies, is expected to use the campaign period to present his alternative economic programme.
His position on petrol subsidy is particularly significant because Nigeria has struggled for decades to balance the need to protect consumers from high energy prices with the enormous financial burden of subsidising petroleum products.
The subsidy regime previously consumed substantial government resources, while critics also argued that it created opportunities for corruption and encouraged inefficient fuel consumption.
Supporters of subsidy removal maintain that the funds saved should instead be invested in infrastructure, healthcare, education and other productive sectors.
Opponents, however, contend that removing subsidy without adequate social protection measures places an excessive burden on ordinary Nigerians.
The debate is now expected to form a major part of the 2027 presidential campaign as political parties seek to convince voters that their economic policies can reduce hardship while maintaining fiscal stability.
Vanguard listed the Atiku subsidy story among its Top Stories, while its political coverage also reported subsequent debate over the former vice-president’s position.
