Sunday Dare, Special Adviser to President Bola Tinubu on Media and Public Communication, has criticised former Vice President Atiku Abubakar’s plan to reintroduce fuel subsidy if elected president in 2027.
Reacting in a post on X, Dare argued that Atiku’s proposal to sell crude oil to local refineries at discounted prices would undermine government revenue, distort the domestic market, and encourage cross-border fuel smuggling.
He described the plan as “an economic safari,” warning that preferential crude allocations would create “an immediate fiscal hole” in the Federation Account, reducing funds available for schools, hospitals, and security.
Dare further noted that such a system could destabilise smaller indigenous modular refineries and violate the deregulation principles of the Petroleum Industry Act.
Atiku, however, has insisted that Nigeria is wealthy enough to subsidise fuel for its citizens, disowning earlier comments by his aide, Paul Ibe, who suggested a phased approach.
Atiku reiterated: “When I said I would return to subsidy, I will! Nigeria is rich enough to look after the welfare of its citizens.”
Ibe had explained that the subsidy would involve selling crude at discounted rates to local refiners, enabling them to produce fuel at lower costs and sell at affordable pump prices.
The debate reignites controversy over Tinubu’s removal of petrol subsidy in May 2023, a policy his administration has defended as necessary to stabilise public finances, while critics argue it has worsened living costs for Nigerians.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com