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Former Vice President Atiku Abubakar’s spokesman, Paul Ibe, has said an Atiku administration would restore petrol subsidy if elected in 2027, but gradually phase it out once the economy and domestic refining capacity become strong enough. He said the intervention would be temporary and aimed at giving Nigerians and businesses room to recover from rising costs and improving economic productivity.
Ibe explained that the proposed policy would differ from Nigeria’s previous import-subsidy system. Under the plan, crude oil would be supplied to domestic refineries at a discounted rate, allowing them to produce petrol and diesel at lower costs and ultimately reduce pump prices. He said an independent committee would determine appropriate refinery prices while monitoring the market to prevent abuse.
However, Atiku’s campaign later clarified that his position was not to revive the old import-subsidy regime. His Senior Special Assistant on Public Communication, Phrank Shaibu, said Atiku supports a targeted, capped, transparently budgeted and independently audited intervention to support domestic refining, with measurable conditions for its eventual withdrawal.
