Are you planning to bring back the old fuel subsidy?

Atiku said the relationship between energy costs and household welfare was precisely why his economic programme placed affordability at its centre. The World Bank has previously noted that higher petrol prices reduce household purchasing power directly and can also feed through into the prices of other goods and services, particularly transportation. “When fuel becomes expensive, transporting tomatoes from the farm becomes expensive. Taking rice to the market becomes expensive. Moving children to school becomes expensive. Running the neighbourhood grinding machine becomes expensive. Powering the small shop becomes expensive. “And eventually, the additional cost arrives at the dinner table. “That is why I refuse to accept an economic philosophy in which government simply watches prices rise and tells struggling citizens to endure.” Atiku reiterated that his proposed petroleum intervention is a production subsidy, rather than a return to subsidising imported petrol. His published proposal provides for targeted support tied to crude refined domestically, with the intervention capped, transparently budgeted and independently audited.