Kí ni ìdúró rẹ lórí ìyọ̀ǹda epo (fuel subsidy), àti bí o ṣe máa mú owó-ọ̀wọ́lé wá fún ìjọba láìsí rẹ̀?
Ní ti bóyá orílẹ̀-èdè lè ṣiṣẹ́ déédé pẹ̀lú ìmúpadàbọ̀sípò ìrànlọ́wọ́-owó, èmi kò ń sọ̀rọ̀ nípa mímú ìrànlọ́wọ́-owó agbewọlé-ọjà àtijọ́ padàbọ̀sípò, níbi tí owó ìjọba ti lọ ṣèrànwọ́ fún epo tí a ti túnṣe ní òkèèrè tí a sì gbé wọlé sí Nàìjíríà. Ìyẹn ló mú kí Nàìjíríà máa san owó fún epo agbewọlé. Ohun tí mò ń dámọ̀ràn yàtọ̀: ìrànlọ́wọ́-owó ìmújáde, àtìlẹ́yìn fún epo tí a tún ṣe níhìn-ín ní Nàìjíríà, kí àwọn ilé-iṣẹ́ àtúnṣe epo wa lè ṣe ìmújáde pẹ̀lú iye owó kékeré, kí ìwọ sì san owó díẹ̀. Bí ilé-iṣẹ́ àtúnṣe epo kan kò bá ṣe àtúnṣe ní Nàìjíríà, kò yẹ fún ìrànlọ́wọ́ náà. Èyí kì í ṣe ìyípadà ìpò. Mo ti gbà fún ìgbà pípẹ́ pé yíyọ ìrànlọ́wọ́-owó epo kúrò ṣe pàtàkì ní ìlànà, ṣùgbọ́n ọ̀nà ìrànlọ́wọ́-owó ìmújáde yìí ni bí mo ṣe fẹ́ ṣe é ní ọ̀nà tó yàtọ̀.
Ní ti ohun tí èyí túmọ̀ sí fún ọ, góńgó náà ju epo fúnra rẹ̀ lọ. Mo fẹ́ kí owó ọkọ̀ tí o ń san ní àárọ̀ ojoojúmọ́ dín kù. Mo fẹ́ kí iye owó gbígbé oúnjẹ láti oko wá sí ọjà dín kù. Mo fẹ́ kí oníṣòwò náà ná owó díẹ̀, mo sì fẹ́ kí ìyàwèwé, aránṣọ, alágbẹ̀dẹ àti onílé-iṣẹ́ kékeré ná owó díẹ̀ lórí agbára. Ronú nípa rẹ̀ bí mo ṣe ronú nípa bàtà: dípò kí o ná owó ìjọba láti mú kí bàtà agbewọlé dín ní iye owó, o ṣe àtìlẹ́yìn fún alágbàtà bàtà ní Aba láti ṣe ìmújáde pẹ̀lú iye owó kékeré, kí ó lè gba àwọn ènìyàn púpọ̀ síi sí iṣẹ́, kí ó sì ta ọjà pẹ̀lú iye owó tí ó rọrùn jù. Mo yan ọ̀nà kan náà fún epo.
Ní ti dídá owó-wíwọlé sílẹ̀ fún orílẹ̀-èdè náà dípò gbígbé kẹ́kẹ́ lé yíyọ ìrànlọ́wọ́-owó kúrò nìkan, mo ti dábàá ètò ìmúnilágbára ọrọ̀-ajé tó jẹ́ $10 bílíọ̀nù, ìlọ́wọ́sí-ara tó dojú kọ àwọn ènìyàn, tí ó ń lo owó tí a fi pamọ́ láti ọwọ́ yíyọ ìrànlọ́wọ́-owó kúrò láti yí ìgbésí ayé padà tààrà. A ṣe èyí láti dá àwọn iṣẹ́ ṣíṣe mílíọ̀nù lọ́pọ̀lọpọ̀ sílẹ̀ kárí iṣẹ́ àgbẹ̀, iṣẹ́ ìmújáde ọjà, ìmọ̀-ẹ̀rọ, àti amáyédẹrùn, láti gbé mílíọ̀nù àwọn ènìyàn jáde kúrò nínú òṣì, láti pèsè àtìlẹ́yìn pàtó fún àwọn tí ó wà nínú ewu jùlọ, àti láti fi okun sí ìgbòkègbodò ọrọ̀-ajé tí ó ń mú ìpìlẹ̀ owó-orí dàgbà fúnra rẹ̀. Ìmúnilágbára ọrọ̀-ajé tó ní ìwọ̀n yẹn, tí a bá mu ṣẹ dáadáa, yóò mú owó-wíwọlé púpọ̀ síi wá fún ìjọba ju èyíkéyìí àlékún owó-orí lọ, nítorí pé ó jẹ́ owó tí a jogún láti ara ọrọ̀-ajé tó ń dàgbà, tó ní ìmújáde, dípò kí a fà á yọ láti ara ọ̀kan tó ṣe òṣì.
Mo tún ti pe fún kíkojú ìwà ìbàjẹ́, bẹ̀rẹ̀ pẹ̀lú àtúntò NNPCL, tí ó ti jẹ́ olùjàre pàtàkì nínú ipò ìrànlọ́wọ́-owó tó ti wà. Mo sì ti ti kẹ́tẹ́kẹ́tẹ́ fún kíkojú àìtó amáyédẹrùn àtúnṣe epo ti Nàìjíríà tààrà: fífi àwọn ilé-iṣẹ́ àtúnṣe epo tí ìjọba ní lé lọ́wọ́ aládàáni, àti rírí i dájú pé Nàìjíríà ń tún ó kéré tán 50% epo robi tí a ń mújáde lọ́wọ́lọ́wọ́ ṣe, pẹ̀lú ìfẹ́-ọkàn láti gbé 50% nínú agbára yẹn jáde sí àwọn orílẹ̀-èdè ọmọ-ẹgbẹ́ ECOWAS.
Ní ti bí a ṣe yẹ kí a ṣe àtúnṣe náà, mo ti gbani níyànjú ọ̀nà díẹ̀-díẹ̀, títẹ̀lé àwọn ìyípadà ní àkókò dípò yíyọ ìrànlọ́wọ́-owó kúrò lójijì àti pátápátá, pẹ̀lú ètò ààbò láwùjọ tó lágbára láti ṣe àtìlẹ́yìn fún àwọn ènìyàn láàrín àwọn ìpèníjà iye owó ìgbésí ayé, nígbà tí a bá sì ń fi owó tí a fi pamọ́ náà dókòwò sí amáyédẹrùn, ẹ̀kọ́, ìtọ́jú ìlera, ìdàgbàsókè ìgbèríko àti ìmọ̀-iṣẹ́ àti iṣòwò-dídá fún àwọn ọ̀dọ́.
Àwọn ìdáhùn tó wà lórí ojú-ìwé yìí ni a túmọ̀ láti èdè Gẹ̀ẹ́sì nípasẹ̀ ẹ̀rọ, kò sì tíì ṣàyẹ̀wò rẹ̀ láti ọwọ́ atúmọ̀-èdè kan.
Ibi tí èyí ti wá
Post on X Post by @atiku on X · https://x.com/atiku/status/1798409081620779419 2024-06-05 ›
President Bola Tinubu, at his inauguration on May 29, 2023, announced the abolishment of the subsidy on PMS, popularly known as fuel.
Ever since, it has been a bragging right of Tinubu and officials of his administration.
I had in my statement reviewing the one year of the Bola Tinubu administration urged the government to come clean on the actual position of the subsidy policy.
These were my exact words: "...provide clarity on the fuel subsidy regime, including the fiscal commitments and benefits from the fuel subsidy reform and the impact of this on the Federation Accounts. It is curious that since April 2024, fuel queues have mounted at many filling stations across Nigeria, and the infamous ‘black market’ has sprouted in several states. How much PMS is being imported and distributed, and at what cost? What is the implicit subsidy?"
If the subsidy regime had been characterised by opaqueness, what would we say of a situation where the subsidy is still being paid under the cover without Nigerians in the know?
Post on X Post by @atiku on X · https://x.com/atiku/status/1798420836283519275 2024-06-05 ›
President Bola Tinubu, at his inauguration on May 29, 2023, announced the abolishment of the subsidy on PMS, popularly known as fuel.
Ever since, it has been a bragging right of Tinubu and officials of his administration.
I had in my statement reviewing the one year of the Bola Tinubu administration urged the government to come clean on the actual position of the subsidy policy.
These were my exact words: "...provide clarity on the fuel subsidy regime, including the fiscal commitments and benefits from the fuel subsidy reform and the impact of this on the Federation Accounts. It is curious that since April 2024, fuel queues have mounted at many filling stations across Nigeria, and the infamous ‘black market’ has sprouted in several states. How much PMS is being imported and distributed, and at what cost? What is the implicit subsidy?"
If the subsidy regime had been characterised by opaqueness, what would we say of a situation where the subsidy is still being paid under the cover without Nigerians in the know?
Thread on X Thread by @atiku on X · https://x.com/atiku/status/1853078096372535359 2024-11-03 ›
We would have been guided by my robust reform agenda as encapsulated in 'My Covenant With Nigerians', my policy document that sought to, among others, protect our fragile economy against much deeper crisis by preventing business collapse; our document had spelt out policies that were consistent and coherent.
We would have sequenced my reforms to achieve fiscal and monetary congruence. Unleashing reforms to determine an appropriate exchange rate, cost-reflective electricity tariff, and PMS price at one and the same time is certainly an overkill. Add CBN’s bullish money tightening spree. As importers of PMS and other petroleum products, removing subsidy on these products without a stable exchange rate would be counterproductive.
We would have been more strategic in our response to reform fallout. We would not over-estimate the efficacy of the reform measures or underestimate the potential costs of reforms. I would recognise that reforms could sometimes fail. I would not underestimate the numerous delivery challenges, including the weaknesses of our institutions, and would work assiduously to correct the same. I would, as a responsible leader, pause, reflect, and where necessary, review implementation.
Thread on X Thread by @atiku on X · https://x.com/atiku/status/1853078096372535359 2024-11-03 ›
SUBSIDY REMOVAL
Yes, I have always advocated for the removal of subsidy on PMS because its administration has been mildly put, opaque with so much scope for arbitrariness and corruption. Mind boggling rent profit from oil subsidy accrued to the cabals in public institutions and the private sector.
I would have prioritized the following:
First, tackling corruption. Fighting corruption should have commenced with the repositioning of the NNPCL, which is a huge beneficiary of the status quo. Its commitment to reform and capacity to implement and enforce reforms is suspect. The subsidy regime has provided an avenue for rent seeking, and the NNPCL and its guardians will be threatened by reforms.
Second, paying particular attention to Nigeria’s poor refining infrastructure. We are by far the most inefficient OPEC member country in terms of both the percentage of installed refining capacity that works and the percentage of crude refined. We would’ve commenced the privatization of all state-owned refineries and ensure that Nigeria starts to refine at least 50% of its current crude oil output. Nigeria should aspire to export 50% of that capacity to ECOWAS member states.
Thread on X Thread by @atiku on X · https://x.com/atiku/status/1853078096372535359 2024-11-03 ›
Third, adopt a gradualist approach in the implementation of the subsidy reforms. Subsidies would not have been removed suddenly and completely. It is instructive that when I was Vice President, we adopted a gradualist approach and had completed phases 1 and 2 of the reform before our tenure ended. The incoming administration in 2007 abandoned the reforms, unfortunately. The majority of the countries that review or rationalize subsidy payments adopt a gradualist approach by phasing price increases or shifting from universal to targeted approach (Malaysia, 2022 and Indonesia, 2022 -2023). In many EU economies, complete withdrawal often takes 5 years to effect. The gradualist approach allows for adjustments, adaptation and minimizes disruptions and vulnerability.
Fourth, implement a robust social protection programme that will support the poor in navigating the cost-of-living challenges arising largely from reform implementation. We would’ve invested the savings from subsidy withdrawal to strengthen the productive base of the economy through infrastructure maintenance and development; to improve outcomes in education and healthcare delivery; to improve rural infrastructure and support livelihood expansion in agriculture; and develop the skills and entrepreneurial capacity of our youth in order to enhance their access to better economic opportunities.
Thread on X Thread by @atiku on X · https://x.com/atiku/status/2050126729478304027 2026-05-01 ›
A Missed Opportunity for Transformation.
During the 2023 presidential campaign, I presented Nigerians with an alternative vision. Our manifesto proposed a $10 billion economic stimulus programme, a bold, people-centred intervention that would have used the savings from subsidy removal to directly transform the lives of Nigerians. This plan was designed to create millions of jobs across agriculture, manufacturing, technology, and infrastructure. It would have lifted millions out of poverty, provided targeted support to the most vulnerable, and ignited the kind of economic activity that grows the tax base organically.
A stimulus of that scale, properly implemented, would have generated far more revenue for government than any tax increase ever could, because it would have been earned from a growing, productive economy rather than extracted from an impoverished, shrinking one. It would have meant that the pain of subsidy removal was temporary, giving way to a period of genuine renewal, renewal of opportunity, of employment, of hope. Instead, Nigerians were given a coastal highway awarded without due process to a presidential buddy. The contrast between these two visions, one centred on the people, one centred on self, could not be starker.
Article on X Article by @atiku on X · https://x.com/atiku/status/2073404094681588038 2026-07-04 ›
I wish to place this figure in concrete human terms. In the 2023 presidential election, I presented to Nigerians a comprehensive economic recovery programme anchored on a $10 billion stimulus package, an intervention designed to recapitalise the productive economy, restore exchange rate stability, reduce the cost of borrowing for Nigerian businesses, and create millions of jobs across the agricultural, manufacturing, and technology sectors. Critics and supporters of the Tinubu administration dismissed that proposal as ambitious, even unrealistic, asking where the resources would come from. The IMF has now answered that question. ₦8.8 trillion, the equivalent of approximately $5.5 billion at current exchange rates, was available. It was not unavailable. It was not non-existent.
Article on X Article by @atiku on X · https://x.com/atiku/status/2098441590184264064 2026-09-11 ›
The Presidency turned it into a campaign of fear. “A refinery that has invested billions of dollars cannot be commanded to sell indefinitely below cost and absorb the losses. That would be reckless, economically destructive and unfair to any private investor. “But that is precisely why our proposal is different. “We are restoring subsidy through a production subsidy model, not an import subsidy model. “The difference is simple enough for every Nigerian to understand. Import subsidy spends public money supporting petrol refined abroad and brought into Nigeria. Production subsidy supports crude refined here in Nigeria so that Nigerian refineries can produce fuel more cheaply and Nigerians can pay less. “Think of it like rice.
Post on X Post by @atiku on X · https://x.com/atiku/status/2098476924813115799 2026-09-11 ›
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.
Article on X Article by @atiku on X · https://x.com/atiku/status/2100618980339646804 2026-09-17 ›
“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.
Article on X Article by @atiku on X · https://x.com/atiku/status/2102445684846694501 2026-09-22 ›
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.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
On the cost of living, I refuse to accept an approach where government simply watches prices rise and tells struggling citizens to endure. My proposed petroleum intervention is a production subsidy, not a return to subsidising imported petrol. It provides targeted support tied to crude refined domestically, with the intervention capped, transparently budgeted and independently audited. My argument is that we must reduce the cost of energy so that salaries buy more, reduce transport costs so that less of a worker's wage disappears just getting to work, reduce the cost of moving food so families spend less in the market, and reduce the cost of living so that after food, rent and transportation, parents and students have more money left. I place affordability at the centre of my economic programme, because when fuel becomes expensive, transporting food, taking goods to market, moving children to school, running a neighbourhood grinding machine, and powering a small shop all become more expensive, and that cost eventually arrives at the dinner table.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
On rising fuel costs, I have always believed the removal of the fuel subsidy was necessary, because it had become a drain that enriched middlemen. What I would prioritise is tackling corruption, starting with repositioning the NNPCL, and paying attention to our poor refining infrastructure. I would commence privatisation of state-owned refineries and work to ensure Nigeria refines at least 50% of its own crude output, with an aspiration to export 50% of that capacity to ECOWAS countries. Alongside this, I want to reduce the cost of energy itself, so it goes further in your pocket.
On unemployment, I am putting in place a financing programme for start-ups and entrepreneurs, so young Nigerians can move from dependence to enterprise, from unemployment to productivity.
On the high cost of education, my approach will reduce the underlying cost of education and provide forgiveness for qualifying student debts. My administration will provide non-repayable scholarships, grants and bursaries instead of forcing students into debt, while forgiving existing student loan obligations and directly reducing university tuition costs for low-income families.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
On making reforms felt in your pocket and home, I have said that a competent government should be able to protect both the producer and the consumer, and that economic reform must have a human face, affordable food, cheaper transportation, accessible healthcare, decent jobs. My plan is to reduce the cost of energy so your salary buys more, reduce transport costs, and reduce the cost of moving food, so your family keeps more of what it earns. I believe every policy, from economic reform to security to social protection, must be measured by its impact on citizens, and that reform must be sequenced, supported and humane, so that Nigerians are not pushed further into hardship in the process. I will not treat budget reviews or reform rollouts as a one-time announcement. I am prepared to pause, reflect, and where necessary, review implementation, rather than assume reforms are working simply because they have been announced.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
Yes, job creation is central to what I have set out for you.
My policy focuses on private-sector-led growth, targeting up to 3 million jobs annually for graduates and young Nigerians.
I also proposed a $10 billion economic stimulus programme, using the savings from subsidy removal, designed to create millions of jobs across agriculture, manufacturing, technology, and infrastructure. That plan was meant to lift millions out of poverty, give targeted support to the most vulnerable, and ignite the kind of economic activity that grows the tax base organically, so that the pain of subsidy removal gave way to renewal of opportunity and employment.
On the digital economy, I am determined to prepare you for the jobs of the future by investing in digital skills, innovation, and technology-driven education. This means supporting tech hubs and innovation centres across the country, building digital skills, coding, and technology training into education systems, training in fields like artificial intelligence, cybersecurity, and data science, and partnering with private companies and global technology firms to expand access to training and employment.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
Wa alaikum assalam, and thank you for writing to me.
On subsidy, let me be clear about what I am proposing. I am not bringing back the old subsidy on imported fuel. I am restoring a subsidy that supports crude refined here in Nigeria. This means government support goes to Nigerian refining, not to paying for fuel brought in from outside. The goal is that our refineries produce at lower cost, so you pay less at the pump, and that support actually translates into lower prices for you, not waste.
This is bigger than fuel for me. I want the bus fare you pay every morning to come down. I want the cost of moving food from farm to market to come down. I want the trader, the barber, the tailor, the welder, the small business owner, to spend less on energy to run their work.
ojú ìwé 1 CANDIDATE-APPROVED ANSWER Candidate-approved answer 2026-10-17 ›
On helping businesses recover, I will introduce tax reductions or credits for small businesses based on the number of people they hire and retain, temporary tax relief for startups and small businesses in their early years, and payroll tax incentives for businesses that grow their workforce. I will also bring informal businesses into the formal economy by making it beneficial, not burdensome, through tax amnesty or grace periods for those who register, linking tax compliance to access to government support and financing, and ensuring newly formalised businesses are not immediately overburdened. Alongside this, I am committed to a financing programme for start-ups and entrepreneurs, to move young Nigerians from dependence to enterprise and from unemployment to productivity.
On fuel subsidy, my commitment is firm, but it is not a return to the old import subsidy model. I am proposing a production subsidy model: support for crude refined here in Nigeria, so our refineries can produce fuel more cheaply and you pay less at the pump. It would be structured to support domestic refining, eliminate waste, and ensure that every naira of support translates into a measurable, lower price for you, not an open-ended subsidy on fuel brought in from abroad. I call this not a political slogan but a solemn covenant with you.