Presidency Claims Atiku’s Petrol Subsidy Plan Could Cost Nigeria N19.1tn Annually

Presidency Claims Atiku’s Petrol Subsidy Plan Could Cost Nigeria N19.1tn Annually The Presidency has claimed that a proposed petrol subsidy policy by Atiku Abubakar, the African Democratic Congress ADC presidential candidate, could cost Nigeria about N19.1 trillion annually. Otega Ogra, Senior Special Assistant to President Bola Tinubu on Digital and New Media, made the claim while commenting on Atiku’s proposed approach to petrol pricing and subsidy. According to Ogra, the policy could place a significant financial burden on the Federal Government if implemented, potentially costing the country trillions of naira every year. The claim comes amid an ongoing political debate over the future of petrol pricing and government intervention in the downstream petroleum sector. Atiku, who is seeking to challenge for the presidency ahead of the 2027 general elections, has advocated policies aimed at addressing the impact of high fuel prices on Nigerians. The debate over petrol subsidies remains one of the most contentious economic issues in Nigeria, particularly following the Federal Government’s removal of the petrol subsidy in 2023. The subsidy removal led to a significant increase in petrol prices and contributed to higher transportation and living costs, prompting calls from opposition figures and other stakeholders for measures to reduce the burden on citizens. The Presidency has continued to defend the decision to end the subsidy, arguing that the policy had imposed a heavy financial burden on the government and created opportunities for inefficiency and abuse. Ogra’s latest claim is expected to fuel further debate over the economic implications of restoring or introducing new forms of petrol subsidy ahead of the 2027 elections. Atiku and the ADC are expected to respond to the Presidency’s assessment of the proposed policy as the political debate over fuel pricing and economic management intensifies. The actual cost of any subsidy arrangement would depend on factors including petrol consumption, international crude oil prices, exchange rates and the structure of the proposed policy. Further discussions are expected as political parties and presidential contenders present their economic programmes ahead of the 2027 general elections.