Presidency Says Atiku’s Refinery Subsidy Proposal Failed Under Obasanjo

The Presidency has rejected Atiku Abubakar’s call for a production subsidy for local refineries, saying a similar policy failed during the Obasanjo administration when Atiku was vice-president. A presidential aide said refinery utilisation rates were low at Warri, Kaduna and Port Harcourt refineries in the early 2000s despite the policy. He also claimed petrol prices rose sharply over the same period. According to the aide, the Obasanjo administration later withdrew the crude discount for refineries and directed NNPC to sell crude at international prices. He challenged Atiku to provide evidence that the earlier subsidy policy succeeded.

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