Atiku Abubakar Pledges Targeted Fuel Subsidy for 2027 Run

Former Vice President Atiku Abubakar pledged to restore a targeted petrol subsidy if elected president in the January 2027 general elections. Under his Atiku Economic Recovery Plan (AERP 2027), Abubakar proposes replacing the previous import-subsidy model with a capped, independently audited production-support mechanism. This model would provide preferential crude prices to domestic refineries to lower pump prices, rather than returning to the open-ended regime removed in 2023.

President Bola Ahmed Tinubu dismissed the proposal as a "demonstration of serious ignorance on governance and economy," arguing that subsidy removal was necessary to allow states to pay salaries and pensions. The Presidency and Minister of the Federal Capital Territory Nyesom Wike further accused Abubakar of political desperation and inconsistency, noting he had previously supported the removal of subsidies during the 2023 campaign.

Abubakar responded by accusing the Tinubu administration of "economic vandalism" and "economic fraud." He alleged that the government continues to absorb price differentials through "energy-security expenses" in Nigerian National Petroleum Company Limited accounts while providing tax credits to big oil investors. He characterized this as "brutally savage capitalism" for the poor and "compassionate capitalism" for the rich.

Amidst this policy clash, Abubakar announced that 2027 will be his final attempt to contest the presidency. He also dismissed the electoral influence of former President Olusegun Obasanjo, who recently called selecting Abubakar as his 1999 running mate the "biggest mistake" of his presidency.