Subsidy: Your reforms worsening hardship, Atiku lashes at Tinubu

Former Vice President Atiku Abubakar has criticized President Bola Tinubu's approach to the petroleum sector, accusing the administration of worsening the cost-of-living crisis despite increased government revenues. Atiku stated that the removal of petrol subsidy and the liberalization of the foreign exchange market have led to a rise in inflation, transport costs, and household expenses.

He argued that the administration's policies have demonstrated a "serious ignorance on governance and economy" and rejected the idea that suffering is an economic policy. Instead, Atiku proposed a targeted, temporary production-support mechanism to increase domestic refining and protect consumers from excessive price shocks. He accused Tinubu's administration of applying a rigid approach to subsidy removal without considering the severe economic consequences.

Atiku also questioned the continuation of petroleum under-recoveries and energy-security costs, totaling approximately ₦17.5tn, and challenged the government to explain the financial obligations associated with the petroleum sector.