Atiku Dares Tinubu: Copy My Plan, Just Slash Fuel Prices!

Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has emphatically urged President Bola Tinubu to adopt any policy capable of reducing the price of petrol, stressing that an idea should not be rejected simply because it originates from a political opponent. Atiku made this call during a Friday press conference, where he severely criticized the economic fallout from the removal of the petrol subsidy and implored the Federal Government to swiftly implement measures to alleviate the burden on Nigerian citizens.

According to Atiku, the abrupt removal of the subsidy, without adequate safeguards for families, workers, farmers, and businesses, has ignited a detrimental chain reaction. This has led to an exponential increase in the cost of transportation, food, production, and other essential necessities. He graphically illustrated the pervasive impact, stating, “For more than three years, that burden has travelled from the petrol station to the bus stop, from the bus stop to the market, and from the market to the family dining table.” He further elaborated on the ripple effect: expensive petrol translates to expensive transportation, which in turn makes food expensive. Farmers face higher costs to transport their produce, traders pay more to stock their shops, workers incur greater expenses to commute, and businesses grapple with increased logistics and energy costs, ultimately burdening the Nigerian family.

Atiku asserted that the economic hardship currently plaguing Nigerians can no longer be dismissed as a mere theoretical debate among economists. He argued that the severe effects are being experienced daily by millions of households and businesses across the nation. “When government makes energy expensive, it makes life expensive. This is no longer an argument between economies. It is the daily reality of millions of Nigerians,” he declared.

The former vice president recalled that when he previously advocated for government intervention to lower petrol prices, President Tinubu had dismissed his proposal as evidence of “serious ignorance of governance and economy.” Atiku, however, directly challenged this stance, questioning whether the President would similarly label organized labour, manufacturers, petroleum marketers, and the millions of Nigerians currently expressing concerns over escalating costs as “ignorant.” He posed a series of rhetorical questions: “Is the Nigerian Labour Congress also ignorant when it calls for urgent intervention to cushion workers from rising petroleum prices? Are petroleum marketers ignorant when they call for policies that strengthen domestic refining and help moderate pump prices? Are Nigerian manufacturers ignorant when they warn that power-related expenses now consume more than half of operating costs? And are the millions of Nigerians crying out because they can no longer afford transportation, food, and other basic necessities also ignorant?”

Atiku emphasized the critical importance of government responsiveness, stating that authorities must heed the warnings when diverse sections of society voice concerns about the impact of its policies. “When workers, producers, marketers, and ordinary families are all raising the alarm, government must listen,” he urged. He further warned, “If everyone who questions your policy is ignorant while only the president is presumed wise, then we have a leadership problem in our hands.” He called upon President Tinubu to exhibit the humility and courage required to adjust government policies when they yield unintended and negative consequences, underscoring that “Leadership requires the humility to confront the consequences of policy and the courage to change course.”

Furthermore, Atiku criticized the government's perceived overemphasis on macroeconomic indicators such as GDP growth and increased government revenues, arguing that the true measure of economic well-being for Nigerians lies in their purchasing power. “Government celebrates GDP growth, higher revenues, and bigger allocations. But Nigerians judge the economy by what their money can buy,” he stated. He elaborated that if government revenues increase while citizens can afford less food, fuel, electricity, and transportation, then these "bigger government revenues mean little to the families struggling to survive.”

Atiku made a direct appeal to President Tinubu to utilize the remaining approximately eight months of his administration to significantly reduce the economic burden on Nigerians, saying, “Bola, I want you to use those eight months to give Nigerians relief.” He specifically implored the President not to dismiss a policy intervention purely because it was proposed by a political rival. “Bola Tinubu should not be ashamed to do what is necessary to lower the price of petroleum simply because Atiku Abubakar proposed a government intervention,” he asserted. He even suggested, “He should just take the idea, rename it if he wishes, and even take the credit. What matters to me is that Nigerians pay less.” Atiku reiterated this point: “A sensible idea does not become a bad idea because it came from your opponent. If responsible intervention can lower prices, intervene. If changing course can help Nigerians’ families, change course for God’s sake.”

He also issued a strong caution against the Federal Government's excessive reliance on palliatives to mitigate the effects of economic policies. He described such measures as merely temporary solutions that are incapable of replacing sound, fundamental economic strategies. “Nigerians do not need another elaborate palliative economy. Do not make life unbearable and then distribute bags of rice as evidence of compassion,” he admonished. “Palliatives manage pain. Good policy addresses the source of the pain.”

Atiku also voiced profound concern over the planned phase-out of electricity subsidies in 2027, warning that a further surge in energy costs could impose unbearable pressure on households, small businesses, and manufacturers. He urged the government not to repeat the mistakes made with petrol, stating, “The lesson of petrol must not be repeated with electricity. Do not remove first and think later. Do not impose the pain first and search for palliatives afterwards.” He concluded this point by asserting, “When energy becomes unaffordable, everything becomes unaffordable.” He reiterated his call for Tinubu to implement measures to reduce the cost of living within his remaining term, offering to provide technical input if required. “Nigerians do not have to wait for another administration before they benefit from an idea that can help them today,” Atiku said, adding, “If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit. I ask for only one thing: Let Nigerians breathe.”

Looking ahead, Atiku also outlined a specific policy he would implement if elected president in 2027: a transparent production subsidy for petroleum products refined within Nigeria and sold to Nigerian consumers. He explained that this scheme would mirror government support provided to local production in other sectors, citing rice milling as an example. His rationale is that by reducing production costs for Nigerian refiners, they would be empowered to sell petroleum products at lower prices, thereby boosting demand for locally refined goods and generating employment across the entire value chain. “Government support must bring prices down,” he affirmed. He clarified that only petroleum products verifiably refined in Nigeria would qualify for this proposed subsidy, with imported products being explicitly excluded. The program, he noted, would also feature clear spending limits, necessitate approval from the National Assembly, and be subject to rigorous independent audits.

Finally, Atiku urged Nigerians to maintain vigilance amidst potential protests by transport operators, cautioning that such demonstrations, while bringing temporary relief, might not address the deeper, systemic issues. He advised Nigerians to discern between short-term interventions and comprehensive policies capable of delivering sustainable reductions in the cost of living. He articulated his political philosophy by stating, “I am prepared to compete with you politically, but I will never compete with the welfare of the Nigerian people. The presidency may be contested. The well-being of Nigerians should never be.” His ultimate vision is to cultivate an economy where increased production directly translates into jobs, higher government revenue genuinely improves living standards, and economic growth tangibly increases the purchasing power of all Nigerians. He concluded: “Ultimately, Nigerians do not live on statistics. They live on what their hard-earned money can buy.”