The Presidency has rejected former Vice-President Atiku Abubakar’s plan to restore petrol subsidy if elected in 2027, describing it as retrogressive and fiscally unsustainable.
Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, said the proposal could undermine reforms in the petroleum sector, create legal and fiscal complications, and discourage investment in domestic refining, including the Dangote Refinery and modular refineries.
Reacting to Atiku’s proposal, Onanuga described it as a product of desperation to win the presidency, insisting that Nigeria’s petroleum landscape had changed fundamentally since Tinubu removed the subsidy in May 2023.
Tinubu also criticised Atiku’s plan, describing it as evidence of his high level of ignorance in governance and economy.
