Former Vice-President Atiku Abubakar has clarified that his proposal to restore fuel subsidy is aimed at supporting domestic refining and reducing the cost of petrol, rather than subsidising imported fuel.
Atiku made the clarification in a series of posts on his X account on Saturday, describing his proposed policy as a “production subsidy” designed to support locally refined petroleum products.
According to him, the government would support crude oil refined in Nigeria to enable domestic refineries to produce petrol at lower costs and pass the savings on to consumers.
Using shoemaking as an analogy, Atiku said the government could either spend public funds to make imported shoes cheaper or support local shoemakers in Aba to reduce their production costs, create jobs and sell their products at more affordable prices.
“I choose the Aba shoemaker,” he said.
Atiku said the same principle would apply to fuel, with government support directed towards domestic refining to reduce production costs and make petrol more affordable for Nigerians.
He argued that the policy would go beyond reducing pump prices, saying cheaper fuel could help lower transportation costs, reduce the cost of moving food from farms to markets and ease energy expenses for households and businesses.
“I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down,” Atiku said, adding that traders, artisans and small business owners would also benefit from lower energy costs.
He said the ultimate objective was to put more money in the pockets of Nigerians by reducing spending on fuel and transportation while easing pressure on food prices.
“I will make life affordable again. I will make Nigeria affordable again. It is a promise,” he said.
Responding to a prayer from a follower in another post, Atiku urged Nigerians to help explain his proposed production subsidy, particularly its potential impact on women and families.
He said lower fuel and transportation costs could make it easier for women to operate small businesses and could contribute to lower prices for food and other household necessities.
“That is what my production subsidy is about: support what we refine here, create jobs here, reduce the cost of fuel here, and make everyday life more affordable for Nigerian families,” Atiku said.
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