Former Vice President Atiku Abubakar has called on President Bola Tinubu to take immediate steps to reduce petrol and diesel prices, arguing that rising energy costs are placing additional pressure on Nigerian households, workers and businesses.
Atiku made the call during a press conference in Abuja on Friday, where he spoke about fuel prices, government intervention and the growing cost of living. He urged Tinubu to consider measures that could bring down the price of petrol, even if the proposal originally came from a political opponent.
The African Democratic Congress (ADC) presidential candidate said the impact of high fuel prices had spread far beyond filling stations.
According to him, increased petrol costs have pushed up transportation fares, food prices, logistics expenses and the cost of moving agricultural produce.
He argued that farmers now spend more to transport their goods, traders face higher stocking costs, workers spend more commuting and businesses have to devote more money to energy and logistics.
Atiku also revisited his earlier disagreement with Tinubu over petrol subsidy policy.
He recalled that when he previously advocated government intervention to reduce fuel prices, Tinubu dismissed the proposal as showing “serious ignorance” of governance and the economy.
Atiku questioned whether the Nigeria Labour Congress, petroleum marketers, manufacturers and Nigerians who have raised concerns about rising costs could all be considered ignorant.
He said government should pay attention when workers, producers, businesses and families continue to complain about the effect of high energy costs.
The former vice president also argued that economic performance should not be judged solely by GDP growth, government revenue or larger allocations.
In his view, the more important question is how much ordinary Nigerians can actually afford with their incomes.
Atiku urged Tinubu to use what he described as the remaining eight months of his administration to provide relief, saying the President should adopt any practical policy capable of lowering fuel prices regardless of who first proposed it.
He also criticised heavy reliance on palliatives, arguing that temporary assistance cannot replace policies designed to address the underlying causes of economic hardship.
“Palliatives manage pain. Good policy addresses the source of the pain,” he said.
Atiku further warned against the planned phase-out of electricity subsidies from 2027, arguing that households, small businesses and manufacturers are already facing significant electricity and alternative energy costs.
He said the experience with petrol subsidy removal should not be repeated with electricity.
The ADC candidate offered to make his policy framework available to the Tinubu administration, saying Nigerians should benefit from workable ideas without having to wait for another government.
“If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit,” Atiku said.
He also outlined his proposed approach if elected president in 2027.
Atiku said he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerian consumers. Imported products, he said, would not qualify.
According to him, the programme would operate within a fixed spending limit and require National Assembly approval as well as independent audits.
Atiku said his broader objective would be to ensure that economic growth translates into increased production, employment, purchasing power and improved living standards.
“Nigerians do not live on statistics. They live on what their hard-earned money can buy,” he said.
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