2027: Atiku vows to restore petrol subsidy if elected

Presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has promised to restore petrol subsidy if elected President in the 2027 general election, arguing that Nigerians have not benefited sufficiently from its removal.

Atiku made the pledge during a Hausa-language interview on Wednesday, where he questioned the Federal Government’s management of the funds generated since the subsidy was scrapped.

The former Vice-President said he did not oppose the removal of the subsidy but maintained that the savings should have been channelled into programmes aimed at reducing poverty and improving the welfare of Nigerians.

“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said.

He said his administration, if elected, would restore the subsidy while taking steps to recover funds allegedly misappropriated.

“If elected, I will bring back the oil subsidy, and whoever stole the money must refund it,” he said.

Atiku questions use of subsidy savings

Atiku argued that the removal of petrol subsidy would have been easier for Nigerians to accept if the resulting savings had been transparently invested in critical areas of the economy.

He said the resources could have been used to improve national security, strengthen the education sector, create employment and expand opportunities for young Nigerians.

“The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different,” he said.

“If elected, I can remove the subsidy and use the money to do all these properly,” he added.

Tinubu removed petrol subsidy in 2023

President Bola Tinubu announced the removal of petrol subsidy during his inauguration speech on May 29, 2023.

The policy triggered a sharp increase in petrol prices and contributed to rising costs of goods and services across the country.

The removal has remained one of the most contentious economic policies of the Tinubu administration, with supporters arguing that it has reduced the financial burden of subsidising fuel and opponents criticising its impact on households and businesses.

Some state governors have also acknowledged increased monthly allocations from the Federation Account Allocation Committee, FAAC, since the implementation of the policy.

FG says subsidy removal generated N15.8tn

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said on Wednesday that subsidy removal had generated N15.8 trillion in resources for the federation between June 2023 and December 2025.

Oyedele explained that the increase reflected higher revenue collections, particularly from the naira value of dollar-denominated transactions following the Federal Government’s foreign exchange reforms.

The figure contrasts with Atiku’s criticism of the management of resources generated after subsidy removal and is expected to form part of the broader economic debate ahead of the 2027 election.

Atiku’s subsidy pledge is likely to feature prominently in the campaign

Atiku’s promise to restore petrol subsidy is expected to become a major issue in the economic debate ahead of the 2027 presidential election.

With Nigerians continuing to grapple with the cost of living and high energy and transportation costs, political parties and presidential candidates are expected to present competing policies on fuel pricing, subsidy management, revenue generation and economic relief.

Atiku’s latest position offers a direct alternative to the subsidy-removal policy introduced by the Tinubu administration, placing the management of petrol prices and the use of public resources at the centre of his 2027 campaign message.