‘Voodoo economist’ — Wike tackles Atiku over plan to restore petrol subsidy if elected president

Nyesom Wike, the Minister of the Federal Capital Territory, has criticized former Vice-President Atiku Abubakar for his recent pledge to restore petrol subsidies if elected as the presidential candidate of the African Democratic Congress. Atiku accused the current president, Tinubu, of hiding funds saved from the removal of the subsidy.

However, Wike accused Atiku of desperation, calling him a "voodoo economist" who would say anything to win the presidency. Wike argued that Atiku's inconsistent stances on the subsidy issue were unbecoming of a leader and that the commercialization of the Nigerian National Petroleum Company and the emergence of private refineries have complicated the traditional subsidy model.

He questioned how Atiku would pay subsidies for fuel produced by the Dangote Refinery if elected, as the Petroleum Industry Act has transformed NNPC into a limited liability company. Wike argued that restoring fuel subsidies would undo market-oriented reforms and discourage investment in the petroleum sector, urging Atiku to explain how he would utilize the savings generated from its removal.