APC Rejects Atiku Abubakar's Proposal to Restore Fuel Subsidy

The All Progressives Congress (APC) has strongly rejected a proposal by former Vice President and African Democratic Congress candidate Atiku Abubakar to restore a production-based fuel subsidy. Abubakar's plan suggests shifting government support from petroleum imports to domestic refining, tying incentives to verified crude production to lower consumer prices and build industrial capacity. He has accused the current administration of failing to account for the savings generated by the total subsidy removal.

APC National Chairman Nentawe Yilwatda countered that reinstating any subsidy would create unsustainable fiscal pressures, potentially leading to the return of fuel queues and the cancellation of student loans. Yilwatda argued that the current policy allows the government to fund the new minimum wage, healthcare, and infrastructure, while increasing federal allocations to states for salaries and pensions.

President Bola Ahmed Tinubu has defended the original removal of the subsidy, stating the move saved Nigeria from imminent bankruptcy. Despite this, reports from Reuters and the IMF indicate a severe cost-of-living crisis, with petrol prices rising sixfold and poverty levels reaching approximately 63 percent. While Yilwatda acknowledged that the hardship Nigerians face is real, he maintained that the debate must focus on long-term sustainability rather than short-term price reductions at the pump.