ADC Presidential candidate, Atiku Abubakar
Former Vice President Atiku Abubakar has called on President Bola Ahmed Tinubu to take urgent steps to reduce the price of petrol and ease the cost of living before the end of his administration, saying millions of Nigerians can no longer cope with rising fuel, transport and electricity costs.
In a nationwide address titled: _“Fuel Prices, Palliatives and the Cost of Living,”_ Atiku argued that the removal of petrol subsidy in May 2023 has placed a heavy burden on households, workers, farmers and businesses because adequate measures were not introduced to cushion the impact.
According to him, the rising cost of petrol has pushed up transportation, food prices and production costs, making life increasingly difficult for ordinary Nigerians.
“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive. Farmers pay more to move produce. Traders pay more to stock their shops. Workers pay more to get to work. Businesses pay more for logistics and energy.”
He added, “In the end, the Nigerian family receives the bill. When government makes energy expensive, it makes life expensive.”
The former presidential candidate of the Peoples Democratic Party (PDP) said the effects of the policy are now being felt in every sector of the economy, insisting that economic reforms should be measured by how they improve the lives of citizens rather than by government revenue figures.
Atiku recalled that when he previously suggested that the Federal Government should review its approach to subsidy removal and intervene responsibly to reduce petrol prices, President Tinubu dismissed the proposal.
He questioned whether organised labour, manufacturers, petroleum marketers and millions of Nigerians expressing concerns over rising living costs should also be regarded as uninformed.
“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen.”
He added, “If everybody who questions your policy is ignorant, while only the President is presumed to be wise, then we have a leadership problem on our hands. Leadership requires the humility to confront the consequences of policy and the courage to change course.”
Atiku also expressed concern over the growing hardship facing manufacturers, saying many businesses are battling rising operating costs while consumers no longer have the purchasing power to buy their products.
“Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy.”
He argued that reforms should create jobs, encourage production and improve living standards rather than become “an endless explanation for hardship.”
The former Vice President urged President Tinubu to use the remaining months of his tenure to provide immediate relief to Nigerians by adopting policies that would lower fuel prices.
“Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol simply because Atiku Abubakar proposed a government intervention.”
He continued, “Rename it if he wishes. And even take the credit. What matters to me is that Nigerians pay less.”
Atiku also criticised the government’s reliance on palliative measures, saying they cannot replace sound economic policies.
“Do not make life unbearable and then distribute bags of rice as evidence of compassion.”
He added, “Do not break a man’s legs, hand him crutches and demand applause for providing mobility.”
According to him, while emergency support has its place, long-term relief can only come through policies that address the root causes of inflation and rising living costs.
The former Vice President further warned against the planned phase-out of electricity subsidies from 2027, saying households and businesses are already struggling with rising power costs.
“When energy becomes unaffordable, everything becomes unaffordable.”
He appealed to the President to avoid repeating what he described as the mistakes made during the removal of petrol subsidy.
Atiku also offered to share his economic framework with the current administration if it would help reduce the burden on Nigerians.
“If your government requires policy ideas or technical input on how to bring relief, I am prepared to make mine available.”
He added, “Implement it under your government. Give it whatever name you choose. Take the credit. I ask for only one thing: Let Nigerians breathe.”
Looking ahead to the 2027 general election, Atiku promised that if elected president, his administration would introduce a transparent production subsidy for petroleum products refined and sold within Nigeria.
He explained that the proposed policy would support local refining, lower pump prices, create jobs, stimulate domestic production and exclude imported petroleum products from benefiting.
The proposal, he said, would operate under a fixed spending limit approved by the National Assembly and be subject to independent audits to ensure transparency and accountability.
Atiku maintained that economic growth should be reflected in the daily lives of Nigerians through lower living costs, stronger purchasing power and improved standards of living, rather than in government statistics alone.
