Answers on Economy

What Atiku Abubakar's published plans say about Economy. Open any answer to read it in full, see the page it comes from, and share it.

122 answered questions

• What will you do to make life more affordable and create opportunities for young people? Thank you. I am determined to govern in a way that earns that trust every single day, not just at the ballot box. My promise to make life affordable again is not a political sloga…
• What steps will you take to cut government waste and ensure economic reforms genuinely improve citizens' lives? Thank you. Let me set out plainly what this means for you and your family. At the heart of it is this: before I ask you to bear any cost, I will make sure government itself is not…
• What would you do instead of restoring fuel subsidy, and how would you ensure transparency in managing related funds? On restoring subsidy, let me be clear on what I am actually proposing. I am not bringing back subsidy so Nigeria keeps paying for imported petrol. I am proposing a production subs…
• What is your plan for petrol prices, and will you set a fixed price or subsidize domestic production? Greetings to you. I won't give you a fixed naira figure for petrol, because that is not how I have structured this proposal. What I have set out is a production subsidy, not a pri…
• What is your approach to fuel subsidy reform and easing its impact on the cost of living? Here is what I would have done, and what I believe in, when it comes to subsidy. I have always said that removing the old fuel subsidy was necessary in principle. It had become a…
• What is your plan to replace past youth empowerment programs and ensure lasting economic prosperity? On the youth programme, my commitment is to give you the opportunity to prosper, not just a way to survive hardship. We will restore purchasing power, reduce the cost of living, a…
• What is your position on fuel subsidy, and how will you generate government revenue without it? On whether the country can function normally with subsidy restored, I am not talking about restoring the old import subsidy, where public money went to support petrol refined abro…
• What amount would you reduce fuel price to if elected since you promised to return the subsidy. Will it return to the price it was before 2023 elections On fuel prices, I am not proposing a return to subsidising imported petrol, and I have not set out a specific naira amount I would bring the price down to. What I am proposing is…
• Your Excellency, Alhaji you, sir, how would you tackle Nigeria’s economic hardship, insecurity, and graduate unemployment? Would you increase the NYSC allowance and minimum wage? What concrete assurance can you give Nigerian youths of better governance and lasting change? On your first question, about tackling hardship, insecurity, and graduate unemployment: my plan is clear. End insecurity, bring down the cost of living, create opportunities for e…
• Dear you, how would you address Nigeria’s economic hardship, insecurity, rising fuel costs following subsidy removal, unemployment, and the high cost of education? Would you prioritize scholarships and educational grants over student loans and create more job opportunities for Nigerian yo On the economic hardship you are facing, I want to restore your purchasing power and reduce the cost of living. That means reducing the cost of energy so your salary buys more, re…
• What is your plan to reverse subsidy removal and reduce the high cost of living? On economic reforms and subsidy policies, I will adopt a gradual approach rather than removing subsidies suddenly. I will sequence reforms carefully to align fiscal and monetary p…
• What concrete plans do you have for Taraba's economic growth, youth inclusion, and education reform? On transforming Taraba and building economic opportunity there, I laid out a plan at the Taraba State Investment Forum in Jalingo. I want Taraba to attract both domestic and inter…
• What is your plan to control inflation and strengthen the naira without depleting reserves? On inflation and the naira, I would steer away from a fixed exchange rate, because that is like running a subsidy regime and Nigeria does not have the foreign exchange reserves to…
• Will restoring fuel subsidy worsen economic hardship and poverty instead of helping Nigerians? On fuel subsidy, I have made my position clear: I will restore it, but not so that Nigeria continues paying for fuel imported from abroad. I am restoring it so that Nigerians can…
• What is your plan to lower the cost of living and revive industrialization across Nigeria, including the North? My plan to tackle the cost of living and revive industry covers every part of Nigeria, the North included. On food prices, I will push immediate yield expansion for staples like r…
• How will you finance your promises without burdening future generations with debt? I will manage public debt responsibly, without burdening you and your family. My plan is to move away from debt taken on for consumption, to debt used strictly for productive inve…
• Why does the fuel subsidy matter, and what is your plan for it? The subsidy question matters to me because it is really about what you pay at the pump and what you pay for everything else, from bus fare to food. I said removing the old fuel su…
• Will you bring back the fuel subsidy if you win, and how will it work? Yes, I am restoring the subsidy, but not the old way. I am not bringing back a subsidy that pays for petrol imported from abroad. I am proposing a production subsidy, one that sup…
• What will you do about the exchange rate and its effect on the economy? Thank you for standing with me, and for this question, because I know what the exchange rate does to your pocket, your market, your everything. A fixed exchange rate is not the an…
• What strategy will you use to stabilize the foreign exchange market and strengthen the naira's value? Here is where I stand: a free float, as currently run, is wrong for Nigeria right now. Our reserves are not strong enough to support a freely floating rate, our dollar earnings fr…
• How much will your proposed fuel subsidy cost the government every year, and where will the money come from? The cost will be explicitly capped in the national budget, and the money will come directly from domestic crude sales. I will manage global price shocks using structured fiscal st…
• What happens to petrol prices in your first hundred days? The plan I'm proposing is a capped, budgeted production subsidy tied to petrol actually refined here in Nigeria, including from modular refineries. Imported petrol won't qualify.…
• What would make you decide that the subsidy is no longer necessary? I have always said the subsidy on PMS was opaque, open to arbitrariness and corruption, and that its removal was, in principle, necessary and overdue. So the test was never simply…
• How will you make sure the subsidy actually reduces the pump price rather than simply reducing the refinery’s production cost? I will make sure the saving reaches you, not just the refinery, by paying this subsidy only on verified output. Payments will be tied to volumes measured by digital meters at refi…
• What happens to the subsidy if international oil prices increase significantly? If oil prices rise, I won't let that shock land directly on you at the pump. Under my Production Subsidy Model, any global price shock will be managed using structured fiscal stab…
• What will stop your proposed subsidy from becoming another subsidy system that government cannot afford? What keeps this from turning into another open-ended subsidy burden is simple: it is built with limits from the start, not left to grow unchecked. It comes with a hard fiscal ceil…
• If government subsidises local refineries, how will you make sure the benefit reaches Nigerians rather than becoming extra profit for refinery owners? I will make sure the subsidy reaches you, not refinery owners, by paying it only on verified volume refined in Nigeria, measured by digital meters at refinery gates, with the whol…
• You have proposed a subsidy for locally refined petrol. How exactly will this make fuel cheaper for ordinary Nigerians? Here's how it works: I will make the crude oil that goes into Nigerian refineries cheaper, through a capped and independently verified support mechanism. Imported petrol will not…
• Would you reintroduce any form of price control on staple foods? My plan to steady food prices works through supply, not price controls. I will keep strategic grain reserves topped up and release that food into the market whenever shortages pus…
• Do you know the cost of renting a one-bedroom flat in Abuja, Yola and Lagos? Yes, I do, and that is precisely why I am concerned. The price of a one-bedroom flat varies significantly depending on the area. In Abuja, you can find one-bedroom accommodation f…
• How will you make it easier for small businesses to survive high electricity, transport and goods costs? Your business matters to me, and I know electricity, transport and the cost of goods are eating into what you earn. My policy sets aside a $10 billion fund for small businesses to…
• Why are businesses paying such high interest rates right now? That money was spent in the dark, by unaccountable hands, on undisclosed purposes, beyond the reach of you and your elected representatives. Had it instead been transparently appr…
• How will you manage Nigeria's debt? I am determined to manage public debt responsibly without burdening you. This means shifting from borrowing for consumption to borrowing strictly for productive investment that gr…
• Can both refineries and ordinary Nigerians benefit from the country's oil? Yes. I want Dangote Refinery, modular refineries and other Nigerian investments to remain viable, and I want more refineries, more investment, more competition and more refining c…
• What safeguards will you put on any subsidy for crude going into refineries? I will run any production subsidy with strict safeguards. These include a hard fiscal ceiling, a maximum support level per barrel, independent verification of supported crude, ele…
• Who will benefit from your plan to support fuel refining? Under my plan, support will be tied strictly to crude refined in Nigeria. If you do not refine here, you do not qualify. This means Nigerian refineries will benefit, Nigerian work…
• How will you bring down the price of fuel? I will restore the subsidy, but move it from importation to production, so it follows every barrel refined here in Nigeria, including from modular refineries. Imported petrol will…
• What is your production subsidy plan for fuel? My production subsidy plan is designed to protect Nigerian refineries and cut domestic production costs, so that fuel becomes more affordable without forcing refiners to sell at a…
• How will you judge whether government spending is actually helping Nigerians? I ask it simply: what is the money worth, and what has it delivered? Has it settled the obligations it was meant to settle, and are Nigerians actually better off because of it? Bi…
• What do you mean when you say you will make life affordable again? For me, affordability means cheaper transportation, lower pressure on food prices, and more manageable energy costs. It means your purchasing power is stronger, so your income can…
• What do you think when people call for fiscal discipline but it only seems to hurt ordinary Nigerians? I say you cannot defend concessions for the powerful, tolerate waste in government, and then preach fiscal discipline only when ordinary Nigerians ask for relief from unbearable l…
• How will you make sure fiscal discipline isn't only asked of ordinary people? I believe government must stop pretending that fiscal discipline begins only when ordinary Nigerians are asked to make sacrifices. Government expenditure, tax concessions, import…
• What does it mean to you when the government says it has record revenue? Revenue sitting in a government account is not an achievement by itself. What matters to me is what that revenue actually buys, what debts it settles, what infrastructure it deliv…
• If states are getting record allocations from the federation account, why are many of them still deep in debt? That is the question I am asking too. A September 2026 report using Debt Management Office data shows that just 12 states whose governors are ending their tenures carry a combined…
• What is the point of record government revenue if food, transport and electricity remain unaffordable? I have said that the real test is not the size of the figures announced after FAAC meetings, but what those allocations can actually buy and what obligations they can meet. Govern…
• Why doesn't a higher salary buy as much as before? Because the naira figure has grown, but its real value has shrunk. In 2019, ₦30,000 minimum wage was worth about $83. By May 2023, that same ₦30,000 was worth about $65. Now the m…
• Has your salary actually improved when the naira figures go up? I have said that this is where the deception becomes clearest in the everyday experience of the Nigerian worker. Salaries may have increased in naira terms, but their real value a…
• Why do you say the government's bigger naira figures don't prove Nigeria is richer? Because bigger numbers do not cancel smaller value. In 2019, FAAC distribution was about ₦7.85 trillion, worth around $25.6 billion. By 2025, FAAC had risen on paper to about ₦21.…
• What do you make of the government's claim that subsidy removal raised ₦15.8 trillion? I say Nigerians deserve real answers about that money. Government says subsidy removal mobilised about ₦15.8 trillion between June 2023 and December 2025. In exchange, Nigerians g…
• How will you bring down the cost of living for ordinary Nigerians? My argument is simple: reduce the cost of energy so your salary buys more. Reduce transport costs so less of your wage disappears just getting to work. Reduce the cost of moving f…
• How would lower fuel costs actually help you and your family? Reduce fuel costs and you reduce pressure on transportation. Reduce transportation costs and you reduce the cost of moving tomatoes, rice, yam, livestock and manufactured goods. R…
• How will you bring down fuel prices instead of just giving out palliatives? Under my Economic Recovery Plan, I want to reduce the cost at source rather than let prices explode and then hand out palliatives. Support would be targeted at Nigerian crude supp…
• Why does fuel cost push up the price of food like tomatoes? Think of the woman selling tomatoes at Mile 12. The farmer pays for energy to grow them, a vehicle carries them from the farm, another truck brings them hundreds of kilometres to…
• How does the price of fuel affect someone earning minimum wage? If you earn the ₦70,000 minimum wage, buying just 40 litres of petrol at ₦1,400 a litre costs you ₦56,000. That is 80 per cent of your month's pay gone before you buy food, pay re…
• How does Nigeria's fuel price compare to other oil-producing countries? Other oil-producing countries have used their natural resources to ease the burden on their people, not to punish them at the pump. Nigeria has turned that upside down: our people…
• What do you think the real test of economic policy should be? The real test is simple: can ordinary Nigerians afford transportation, food, education, healthcare and a decent life. That is the standard I judge policy by, not slogans or statis…
• What do you think it will take for Nigeria to develop? Nigeria will develop not because we are different from other people, but because institutions work, policies are consistent, leaders are accountable, and citizens insist upon stan…
• How will young entrepreneurs get access to capital to grow their businesses? I want to expand transparent access to finance for young entrepreneurs, artisans, farmers, technology founders and people working in the creative economy. Your surname, political…
• What has the government's borrowing meant for the country's finances? The government has borrowed at punishing interest rates on international markets, adding to a debt burden that will constrain the fiscal choices of Nigerian governments for a gene…
• How has the removal of the fuel subsidy affected ordinary Nigerians? It was carried out without preparation, without safety nets, and without honest accounting of the savings. That is what sent the cost of living up across every part of Nigerian so…
• What has the IMF found about government spending in Nigeria? The IMF's Article IV consultation found ₦8.8 trillion in unrecorded public expenditure, and the figures are not in dispute. I believe a government that governs in secret spends in…
• What do you want done about the ₦8.8 trillion in unrecorded public spending that the IMF found? I have demanded immediate action. The National Assembly must convene emergency investigative hearings on the IMF's findings without delay, because this is a constitutional emergen…
• What have you said about money being deducted from state governments' allocations? I have pointed to ₦800 billion that has been illegally deducted from the statutory allocations of state governments, funds that belong to the federating units of this republic. Th…
• Was there really money available for your stimulus plan, as the IMF showed? Yes. The IMF has shown that ₦8.8 trillion, about $5.5 billion at current exchange rates, was available. It was not unavailable, and it was not non-existent. I raise this because m…
• What was your $10 billion stimulus package supposed to achieve? I proposed it as a comprehensive economic recovery programme to recapitalise the productive economy, restore exchange rate stability, reduce the cost of borrowing for your busines…
• Why do you think contractors are owed and civil servants are not being paid? This is explained by the ₦8.8 trillion that government has kept outside public view and legislative oversight, instead of transparently appropriating and deploying it in ways that…
• What is this ₦8.8 trillion shadow treasury people are talking about? The IMF has exposed that government has access to ₦8.8 trillion kept entirely outside public view, beyond legislative oversight, and at the disposal of those who hold executive po…
• What do you think about running several budgets at the same time? A budget should be a timetable for delivery, not something passed from one year to the next. Right now the 2025 budget has been extended to the end of 2026, the 2026 budget runs a…
• What is your plan to bring down the price of fuel? I will introduce a capped, budgeted production subsidy tied to verified fuel refined here in Nigeria, including fuel from modular refineries. Imported petrol will not qualify. The…
• How has the minimum wage actually affected what you can buy at the filling station? In April 2023, a ₦30,000 minimum wage could buy about 118 litres of petrol. Today, a ₦70,000 minimum wage buys just 50 litres. So the salary has more than doubled on paper, but th…
• How do you respond to claims that the pain Nigerians feel now is just proof the economy is being fixed? I say a patient who cannot afford to live is not proof that the treatment is working. When a patient cries out, a doctor listens, he does not call him regressive for asking when h…
• What is your plan to bring down fuel prices and the cost of living? I am committed to a targeted production subsidy for petroleum products refined here in Nigeria, not a return to the open-ended subsidy on imported fuel. This will support domestic…
• Will imported fuel qualify for your proposed subsidy? No. My proposed subsidy will apply only to petroleum products refined in Nigeria and sold to Nigerians. Imports will not qualify.
• Will you bring back the old fuel subsidy system? No. My proposed intervention will not revive the corrupt and opaque subsidy regime of the past. Instead, it will introduce a transparent production subsidy tied strictly to petrol…
• What is your plan to deal with the fuel subsidy problem? 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…
• What do you think is the government's responsibility to ordinary people during tough economic times? I believe government has a duty to protect its people, strengthen domestic production, and shield vulnerable families from devastating economic shocks. Any economic reform that do…
• What does the survey show about how fuel prices are affecting people in different parts of the country? A survey I highlighted found that petrol was the biggest concern for 32.4 per cent of people in rural areas, compared with 11.7 per cent in urban areas. It was also the leading co…
• How did removing the fuel subsidy affect ordinary Nigerians? I have said subsidy was removed with a slogan, not a strategy. There was no credible plan for domestic refining, mass transportation, wage protection, or for the millions of small…
• What is your plan to make life affordable for ordinary Nigerians? My objective is clear: lower the cost of energy, lower transportation and production costs, strengthen Nigerian production, and restore purchasing power. Economic policy must answ…
• Do you support bringing back fuel subsidy? Not in the old form. My proposal is a production-subsidy, which is different from an import subsidy. It applies only to fuel refined in Nigeria - if you do not refine here, you do…
• What is your plan to bring down the cost of fuel? My plan is a Production Subsidy Model, not an import subsidy: if you don't refine in Nigeria, you don't qualify. I'll reduce the cost of crude supplied to domestic refineries thro…
• Are you planning to bring back the old fuel subsidy? No. What I have proposed is a production subsidy, not a return to subsidising imported petrol. It provides targeted support tied to crude refined domestically, and it is capped, t…
• How will your plan address the impact of high fuel prices on household budgets? I understand that when fuel becomes expensive, everything else follows it up - transporting tomatoes from the farm, taking rice to market, moving children to school, running the n…
• What is your plan to make things more affordable for Nigerians? My plan is to subsidise Nigerian production, not foreign importation. This means producing here, refining here, and creating jobs here, so that you pay less here. This is the prod…
• Will your plan force Dangote refinery to sell fuel below cost? No. We are not proposing to force Dangote or any other Nigerian refinery to sell below cost. Our proposal is to support domestic production, reduce the cost of crude going into Ni…
• Are you proposing to subsidise fuel that is refined abroad? No. We are not proposing to subsidise petrol refined abroad. We are proposing a production subsidy, targeted support for crude refined here in Nigeria, so that domestic refineries…
• What is your plan to bring down the cost of fuel in Nigeria? I have proposed a production subsidy that will reduce the underlying cost of making petrol in Nigeria. This is a different approach from simply telling Nigerians to endure rising…
• What is your plan to bring down the cost of petrol for Nigerians? My proposal is to support domestic production through subsidy. We want to reduce the cost of crude going into Nigerian refineries, protect legitimate refinery margins, and make su…
• How does the price of petrol in Nigeria compare to other oil-producing countries? It troubles me that Nigeria, one of Africa's major oil-producing nations, has reached a point where you pay far more for petrol than citizens of several other oil-producing countr…
• If the government wants to make petrol cheaper, how should it pay for that? I'll pay for it through a capped production subsidy, funded directly from domestic crude sales, not open-ended spending. It cuts crude costs to local refiners so pump prices fall…
• What will you do to make renting a home fairer? I will require states to adopt tenancy laws that reflect economic realities, protect tenants, and support housing investment. This means wage-reflective tenancy laws that balance…
• How will you make housing more affordable for ordinary Nigerians? I will drive a national housing programme that brings together states, the federal government, and private developers. States will provide land through transparent allocation, the…
• What is your plan for Nigeria's digital economy? I am determined to build a globally competitive digital economy for Nigeria. This means moving beyond infrastructure to fully unlock Nigeria's digital potential, positioning Niger…
• What will you do to help small businesses that are struggling with taxes? I will introduce tax reductions or credits for small businesses based on the number of employees they hire and retain. I will provide temporary tax relief for startups and small b…
• What will you do about taxes on small businesses? I want to reduce the tax burden on small businesses that create jobs. Businesses that employ Nigerians will be rewarded with a lower tax burden, and we will create incentives tied…
• How will money be shared between the federal government and the states? I'll reform revenue-sharing so states get a greater share of national resources, with stronger incentives to grow their own economies, expanding the derivation principle to cover…
• How will you help people in the creative industry get funding for film and music projects? I will work to unlock private financing for the creative industry by reducing investment risk and attracting capital into entertainment through structured financial support. This…
• What will you do about fuel price shocks and supply disruptions? I am determined to strengthen our fuel security and keep prices stable. That means protecting Nigeria from supply disruptions and global price shocks by building buffers in our do…
• What is your plan for trade deals with other countries? I will actively negotiate and strengthen trade relationships that open new markets for Nigerian goods and services while protecting our national interests. These agreements will s…
• What will you do to help Nigerian businesses sell into other African countries? I will align our trade policies and standards with the African Continental Free Trade Area so Nigerian goods can compete across African markets. I will support Nigerian businesses…
• How will you use the African free trade agreement to help Nigeria's trade? I will position Nigeria as a leader in intra-African trade through the African Continental Free Trade Area. This means removing barriers to market access under AfCFTA, so Nigeria…
• Will small and medium-scale exporters get any support from you? Yes. I will offer financing and credit support for small and medium-scale exporters as part of my plan to reduce the cost of exporting. This sits alongside support for standardiza…
• How will you help Nigerian businesses sell more to other countries? I will promote exports as a driver of growth and jobs, helping Nigerian businesses compete and win in regional and global markets, with a strong focus on value-added exports and t…
• How will you raise government revenue without taxing people more? I want to increase non-oil revenue through economic growth, not excessive taxation. This is part of our plan to reduce deficit financing and improve fiscal discipline, so that gov…
• Will you keep borrowing to pay for major projects? I will use public-private partnerships to finance major projects instead of relying solely on government borrowing. This is part of how I will manage public debt responsibly, shif…
• How will you bring down the cost of goods and control prices? I will work to reduce bottlenecks in transport, energy, and logistics that drive up the cost of goods, and coordinate fiscal and monetary policy so money supply growth does not ge…
• How will you bring down inflation without hurting businesses? I will tackle the root causes of inflation, especially food supply, logistics, and currency pressures, rather than relying only on restrictive monetary policies that slow the econ…
• How will you manage the economy to keep prices and debt under control? I will pursue fiscally-disciplined, transparent, people-focused economic management that stabilizes prices, manages debt responsibly, and supports sustainable growth without placi…
• What will you do to support startups and innovation in Nigeria? I will strengthen Nigeria's innovation ecosystem through targeted support for startups and businesses looking to scale up. This includes providing research and development grants,…
• How will you help businesses cut costs and compete better? I will develop an Industrial Clustering Policy and Special Economic Zones, so industries can share infrastructure and reach export markets more easily, cutting the cost of doing b…
• What will you do about taxes? I will make taxes simple, harmonised, transparent and fair to everybody. You will be able to track how your taxes are spent at the federal, state, and local levels. I will raise t…
• What will your government do to help women, widows and people with disabilities who struggle to access finance and stable incomes? I understand that women, widows and persons with disabilities face real barriers to finance, markets and stable incomes. My administration will dedicate a portion of the $10 billi…
• How long will the fuel subsidy last, and when would it end? B1
• Which refineries will qualify for subsidy support, and how will spending be tracked and disclosed? Only refineries that refine crude here in Nigeria qualify: Dangote, modular refineries, and other licensed public and private domestic refiners. If you don't refine in Nigeria, yo…
• If government subsidises fuel or crude for refineries, how will that be paid for and controlled? It will be explicitly capped in the national budget and funded from domestic crude sales - every naira tracked: how many barrels, which refinery, what it costs you, what you get b…
• What is your plan to bring down the price of petrol? I am proposing a Production Subsidy Model that lowers crude supply prices or offers fiscal relief on inputs to local refiners. This reduces refining costs at home and brings down…
• Food is becoming unaffordable for many families. What will you do to bring down the prices of basic foods such as rice, beans and garri? I know what it means to watch rice, beans and garri climb while your pocket stays the same. My plan: eliminate import duties on farm inputs to expand local food production quickly…
• What will you do to bring down electricity tariffs? I'll decentralize power generation and open the sector to private investment at every stage. I'll unbundle state power assets, concession the national grid, secure gas supply guar…
• What is your plan to help aspiring entrepreneurs access capital to start a business? I'm setting aside a $10 billion fund for micro, small, and medium enterprises to access single-digit interest loans and startup capital, giving you the financing to start and exis…
• Will companies get any benefit for hiring new graduates? Yes. I will grant tax incentives to private companies that hire new graduates. This is part of a broader plan that includes a $10 billion Economic Stimulus and Startup Financing F…
• Can you account for the major assets privatised under your supervision, including who bought them and how prices were set? Yes. When I supervised privatisation, there was a government department responsible for documenting and assessing every transaction. We created that department, the Bureau of Publ…
• Why did your government decide to privatise state-owned companies? Before privatisation, government had nationalised businesses and was running them at a loss. We felt it was necessary to stop that waste and return those businesses to private com…

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