O ti dámọ̀ràn owó ìrànlọ́wọ́ (subsidy) fún epo tí a ti túnṣe ládùúgbò. Báwo gan-an ni èyí yóò ṣe mú kí epo rọrùn mọ́ àwọn ará Nàìjíríà lásán?

If government wants rice to become cheaper, it has two choices: spend money making imported rice cheaper, or help Nigerian farmers reduce the cost of producing rice at home. The second option lowers prices while also creating jobs, strengthening local businesses and keeping economic activity in Nigeria. “That is exactly what we are proposing for fuel. *We are restoring subsidy, but moving it from importation to production.* “The subsidy follows the barrel refined in Nigeria.” Atiku said his proposal would reduce the cost of crude feedstock supplied to qualifying domestic refineries through a transparent, capped and independently verified mechanism. “If the crude entering a refinery becomes cheaper, the cost of producing petrol should also come down. That reduction should then reach the average Nigerian while preserving legitimate refining costs and a reasonable commercial margin.

“Our proposal is clear: support domestic production, reduce the cost of crude going into Nigerian refineries, protect legitimate refinery margins and ensure that lower production costs translate into lower costs for Nigerians.” Atiku said the Presidency should stop inventing a policy for him and then attacking the fiction it created. “We have been clear from the beginning. “We are restoring subsidy through a production model. “We are proposing a production subsidy not an import subsidy. We are not proposing to subsidise petrol refined abroad. We are not proposing to force Dangote or any other Nigerian refinery to sell below cost. “We are proposing targeted support for crude refined here in Nigeria so that domestic refineries can produce more competitively, expand capacity, create jobs and sell fuel at a price Nigerians can better afford.

My dear Francis, thank you for taking the time to truly understand what I am proposing. That means a great deal to me. I am not restoring subsidy so that Nigeria can keep paying for imported petrol. I am restoring subsidy so that Nigerians can produce more at home, pay less for fuel, and keep more money in their pockets. That is the difference between import subsidy and production subsidy. Think about shoes. If government wants Nigerians to buy shoes more cheaply, it can spend public money making imported shoes cheaper, or it can support shoemakers in Aba to reduce their production costs so they can make more shoes here, employ more Nigerians and sell at more affordable prices. I choose the Aba shoemaker. I will do the same with fuel. We will support crude refined in Nigeria so our refineries can produce at a lower cost and you can pay less. But for me, this is bigger than fuel. I want the bus fare you pay every morning to come down. I want the cost of taking food from the farm to the market to come down. I want the trader to spend less. I want the barber, tailor, welder and small business owner to spend less on energy.

“My position is straightforward: support what Nigeria produces and refines, lower domestic production costs, and ensure that the benefit reaches the Nigerian consumer. “This is not an import subsidy. If you do not refine in Nigeria, you do not qualify. “The subsidy follows the barrel refined in Nigeria. “Produce here. Refine here. Create jobs here. Pay less here.” Atiku said reducing the underlying cost of energy was important not only because Nigerians buy petrol, but because energy and transportation costs run through agriculture, manufacturing, logistics, markets and household expenditure. “My production-subsidy proposal is therefore not simply a petrol policy. It is part of a broader affordability programme. “I want the farmer to spend less getting produce to market. I want the trader to spend less transporting goods. I want the bus driver to spend less on fuel. I want parents to have more money left after transportation so that they can put better food on the table.

The former Vice President reiterated that his proposed intervention would not revive the corrupt and opaque subsidy regime of the past. Instead, it would introduce a transparent production subsidy tied strictly to petroleum products refined in Nigeria and sold to Nigerians. “If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians. “Imports will not qualify. The programme will have a fixed spending limit, National Assembly approval and independent audits. Its purpose will be to reduce fuel prices, strengthen domestic refining, create Nigerian jobs and restore the purchasing power that this administration has destroyed. “The 67.4 per cent demanding relief represents a democratic majority.

We will introduce a capped, budgeted production subsidy tied to verified fuel refined in Nigeria, including fuel from modular refineries. Imported petrol will not qualify. The benefit must reach consumers through lower pump prices. We will publish the costs, independently audit the payments and cut government waste to help fund the programme. The principle is simple: produce here, refine here, create jobs here and pay less here. If Bola disagrees, he should answer the proposal on its merits. Calling relief an addiction will not lower the price of petrol. Bola, your speech is full of “we will.” We will make farming cheaper. We will power factories. We will create jobs. We will bring down prices. You have been President for more than three years. Nigerians are entitled to ask what you have done with the time already given to you. You say that when farmers produce more cheaply and manufacturers spend less on electricity, prices will fall. Of course they will. But farmers and manufacturers are telling you that they cannot produce cheaply now. A farmer who cannot safely reach his field cannot wait for your theory of cheaper food. A factory paying more to keep its machines running cannot wait for another promise of industrial growth.