Former Vice President Atiku Abubakar has accused the Tinubu administration of applying double standards in its approach to government intervention in the economy, arguing that support for domestic fuel production should not be treated differently from tax waivers and incentives granted to businesses.
Atiku, in a statement issued by his Senior Special Assistant
on Public Communication, Phrank Shaibu, on Friday, September 11, 2026, said his
proposed production subsidy was intended to reduce the cost of locally refined
petrol and provide relief to consumers while keeping Nigerian refineries
commercially viable.
He criticised the Federal Government for opposing subsidy
intervention while providing other forms of economic incentives to businesses.
“Intervention is acceptable when the government gives
waivers and concessions to powerful interests, but it suddenly becomes
dangerous when the objective is to reduce the cost of fuel, transport and food
for ordinary Nigerians?” Atiku asked.
“That is not an economic principle. That is selective
compassion.”
Atiku argued that the removal of petrol subsidy had
contributed to rising living costs and placed pressure on households, transport
operators and businesses.
“For three years, Nigerians have been told to endure,” he
said. “Fuel rises, they say endure. Transport rises, endure. Food rises,
endure. Businesses are crushed by energy costs, endure.”
He said his proposed production subsidy would differ
fundamentally from the previous import-focused subsidy system because
government support would be tied to crude processed by Nigerian refineries.
“If you do not refine in Nigeria, you do not qualify,” Atiku
said, stressing that the proposal was not intended to subsidise foreign
refineries, fuel importers or middlemen.
“This is not a subsidy for foreign refineries. It is not a
subsidy for importers. It is not a subsidy for middlemen. It is a subsidy for
Nigerian production,” he said.
The former vice-president also addressed concerns raised by
Dangote Refinery over pump-price controls, saying his proposal would not
require the refinery or other domestic producers to sell below cost.
He said any additional consumer relief beyond savings
generated from cheaper crude feedstock should be explicitly funded by the
government rather than imposed on private refiners.
“You cannot announce a politically convenient petrol price
and quietly dump the cost on the refinery. That is not policy. That is
confiscation by another name,” Atiku said.
He said the proposed scheme would have safeguards, including
a hard fiscal ceiling, a maximum support level per barrel, independent
verification, electronic monitoring, transparent pricing and penalties for
fraud or diversion.
Atiku further accused the Tinubu administration of
presenting economic hardship as evidence that its reforms were working.
“Every new hardship is presented as proof that reform is
working,” he said.
He challenged the Presidency to debate the proposal on its
merits, insisting that Nigeria could simultaneously protect refinery
investments and make petrol more affordable.
“Our proposal is clear: support domestic production, reduce
the cost of crude going into Nigerian refineries, protect legitimate refinery
margins and ensure that lower production costs translate into lower costs for
Nigerians,” he said.
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