Atiku pushes fuel subsidy return as Tinubu's removal saves N15.8T but costs N30.64T

Atiku Abubakar, ADC presidential candidate, proposes restoring fuel subsidy if elected in 2027, funded from crude oil production rather than imports. This reignites debate three years after President Tinubu's May 2023 removal that saved N15.8 trillion (June 2023-Dec 2025) but incurred N30.64 trillion in additional expenditures on wages, debt, infrastructure and power subsidies. Petrol now sells for N1,230-N1,299/litre in Abuja, up from N545 pre-removal.

Economist Godwin Oyedokun advocates targeted subsidies for vulnerable Nigerians and productive sectors instead of blanket returns, warning subsidies could revive fiscal burdens and corruption. IPMAN's Chinedu Ukadike argues focus should shift to reviving Port Harcourt, Warri and Kaduna refineries to reduce price volatility through competition. PETROAN's Billy Gillis-Harry calls subsidy return a "loss of opportunity," questioning how N500/litre pricing would be funded, while Peter Obi insists subsidy removal was correct but proceeds were mismanaged by Tinubu's administration.

With fuel consuming household budgets and transport costs driving inflation, will Nigerians support a return to blanket subsidy for immediate relief, prefer targeted subsidies for the poor, or back refinery repairs as a sustainable solution to volatile pump prices?

SOURCE: https://dailypost.ng/2026/08/26/fuel-subsidy-controversy-economists-ipman-petroan-take-stand/