The Presidency has rejected former Vice-President Atiku Abubakar’s proposal to restore fuel subsidy if elected president in 2027, warning that the policy would place additional pressure on public finances and could revive opportunities for fraud and waste, Peak Newspaper reports.
Tunde Rahman, Special Assistant to President Bola Tinubu on Media and Special Duties, said the proposal would divert public resources that could otherwise be used for education, healthcare, security and infrastructure.
According to the Presidency, returning to subsidy would also undermine investor confidence and reverse the government’s market-oriented economic reforms.
Rahman argued that Nigeria’s recent economic indicators, including reported GDP growth, easing inflation, stronger foreign reserves and improved currency stability, showed what the government described as progress since subsidy removal.
He said the administration believes the focus should instead remain on local refining, competition and compressed natural gas (CNG) as mechanisms for eventually reducing fuel prices.
The Presidency further maintained that subsidy removal was a difficult but necessary decision, while acknowledging that its benefits had not yet fully reached the living standards of many Nigerians.
Atiku, who is seeking the presidency on the African Democratic Congress (ADC) platform in 2027, has advocated restoring fuel subsidy as part of his economic proposals.
The disagreement over the policy is expected to remain a major issue in the build-up to the 2027 presidential election, with both sides offering different approaches to addressing the high cost of living and fuel prices.
