ABUJA, Nigeria: Atiku Abubakar, the presidential candidate for the African Democratic Congress, stated on Wednesday that he will reinstate the petrol subsidy if he wins the 2027 general election.
Okay News reports that Atiku Abubakar questioned the Federal Government during a Hausa-language interview regarding the management of funds saved since the policy ended.
The former Vice President clarified that he did not oppose the initial decision to remove the subsidy but argued that the savings should have been directed toward poverty reduction, education, and security.
“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” he said.
He stated that his administration would restore the subsidy and recover any misappropriated funds, noting the current government has failed to transparently invest the savings into the economy.
“The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different,” he said.
Nigeria’s President, Bola Tinubu, announced the subsidy removal on May 29, 2023.
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated on Wednesday that the subsidy removal generated N15.8 trillion (approximately $9.8 billion) for the federation between June 2023 and December 2025.
