Former Vice President Atiku Abubakar on Friday called on President Bola Tinubu to intervene directly in the petroleum sector and lower the prices of petrol and diesel, arguing that the high cost of fuel continues to drive up the cost of living for millions of Nigerians.
Speaking at a press conference in Abuja, Atiku said Tinubu should not refuse to act simply because the proposal came from a political opponent. “Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol simply because Atiku Abubakar proposed a government intervention,” he said.
Atiku linked rising fuel costs to broader hardship, noting that expensive petrol raises transport fares, which in turn push up food prices and the cost of doing business. “When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive,” he said. “In the end, the Nigerian family receives the bill.”
He recalled that Tinubu had previously dismissed his earlier call for a review of the subsidy removal and for responsible intervention as showing “serious ignorance” of governance and the economy. Atiku questioned whether the same label applied to the Nigeria Labour Congress, petroleum marketers, manufacturers and ordinary citizens who have also raised concerns about high fuel prices and related costs.
According to Atiku, manufacturers face production costs that are rising while goods remain unsold, and families struggle with reduced purchasing power even as government reports higher revenues and GDP growth. “Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy,” he said. “A government collecting more money while its citizens can afford less cannot declare victory on the strength of bigger numbers alone.”
With about eight months left in the current administration, Atiku urged Tinubu to use the remaining period to ease the burden on citizens. He offered to make his policy ideas available and said the president could implement them, rename them and take the credit. “What matters to me is that Nigerians pay less,” he said. “A sensible idea does not become a bad idea because it came from your opponent.”
Atiku criticised reliance on palliatives, saying bags of rice or cash transfers cannot fix an economy where transport and energy costs continuously erode incomes. He also warned against plans to phase out electricity subsidies from 2027, arguing that energy is already expensive for households and businesses and that the experience with petrol should not be repeated.
If elected in 2027, Atiku said he would introduce a transparent production subsidy limited to petroleum products refined in Nigeria and sold to Nigerians. The scheme would have a fixed spending limit, require National Assembly approval and be subject to independent audits. He compared it to support that helps a local rice miller lower costs so more families can afford the product, while also boosting farmers and jobs.
“I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people,” Atiku said. “The presidency may be contested. The wellbeing of Nigerians should never be.”
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