Atiku Would Restore Petrol Subsidy Temporarily, Then Phase It Out — Aide

Paul Ibe, spokesperson for former Vice-President Atiku Abubakar, says Atiku would temporarily restore petrol subsidy if elected president in 2027 before phasing it out gradually. Ibe said the intervention would be tied to crude oil supply and domestic refining rather than the former subsidy system. Under the proposal, local refiners would receive crude at discounted rates to lower the production cost of petrol and diesel, with the expected benefit passed on to consumers. He said an independent committee would help determine refinery prices while the government monitors the deregulated market. Ibe argued that removing petrol subsidy, electricity subsidy and foreign-exchange controls at the same time worsened hardship, and said a temporary measure would give households and businesses time to recover.

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