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Why I will restore petrol subsidy if elected president in 2027 – Atiku

Published

3 months ago

August 21, 2026

Faith Okoye

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The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to restore petrol subsidy if elected president in the 2027 general election.

Abubakar pledged during a Hausa-language interview on PAP programme, Wednesday, arguing that the removal of the subsidy had not resulted in improved living conditions for Nigerians.

He said that, although he did not initially oppose the decision to remove the subsidy, developments since the policy was scrapped have changed his position.

“I initially did not oppose the removal of the fuel subsidy. But now that it has been removed, where is the money?” Atiku asked.

He said his administration would reverse the policy if elected, while also pursuing those accused of diverting funds meant for the subsidy.

“If I win the presidential election, I will restore the subsidy. And anyone who stole Nigeria’s subsidy funds must return the money,” he said.

Abubakar noted that the resources previously spent on subsidising petrol could instead have been channelled into areas such as healthcare, education, security and youth empowerment.

“Now it has been removed. Where is the money? If the funds were used to improve healthcare, education, insecurity, security and youth empowerment, things would have been better,” he added.

His comments came a day after the federal government presented a fresh account of the financial impact of its economic reforms, including the removal of petrol subsidy and the liberalisation of the foreign exchange market.

Earlier on Wednesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the reforms mobilised an estimated N15.8 trillion in subsidy savings for the Federation between June 2023 and December 2025.

The figure, however, does not represent only money retained by the federal government. According to the finance ministry, N5.43 trillion of the estimated savings accrued to the federal government, N6.52 trillion to states, and N3.88 trillion to local governments.

The ministry said the federal government also generated N3.12 trillion in other incremental revenue and raised N11.85 trillion through additional borrowing, bringing its total incremental resources during the period to N20.4 trillion.

Abubakar, however, questioned the government’s account of the savings and argued that Nigerians had yet to see sufficient improvement in their living conditions. (Premium Times)