Former Vice President Atiku Abubakar has challenged the President Bola Tinubu administration to account for funds saved since the removal of petrol subsidy, amid his disagreement with the government over his proposed support for local refineries.
Atiku, through his media aide, Phrank Shaibu, said the government should explain how the savings and other revenues had been utilised as Nigerians continue to face high costs of fuel, food, transportation and electricity.
The former vice president was reacting to criticism from O’tega Ogra, Senior Adviser to President Tinubu on Digital/New Media, over his proposal for targeted production support for locally refined crude.
Ogra had argued that a similar arrangement operated during the administration of former President Olusegun Obasanjo, when Atiku was vice president, and questioned the effectiveness of the policy.
He also attached an estimated annual cost of ₦21.9 trillion to Atiku’s proposed refinery production subsidy.
However, Shaibu rejected the figure, saying it was not contained in Atiku’s proposal and was based on assumptions made by the presidential aide.
He explained that Atiku’s proposal was different from the previous preferential crude allocation arrangement, as the proposed support would be specifically tied to fuel refined domestically.
According to him, the proposed intervention would be capped, budgeted, appropriated and subjected to monitoring, with no provision for imported fuel or unrestricted government payments.
Shaibu maintained that the policy was designed to increase domestic refining capacity, create jobs and reduce the cost of petrol and other essential commodities.
Atiku also questioned the economic impact of the Tinubu administration’s removal of petrol subsidy, demanding greater transparency over the funds reportedly saved from the policy.
The ADC presidential candidate further criticised Ogra for his continued attacks on the opposition candidate despite his exclusion from the APC Presidential Campaign Council.
Atiku suggested that Ogra should reconsider his approach, alleging that his criticisms were aimed at demonstrating political relevance within the ruling party ahead of the 2027 election.
