Presidency slams Atiku over ‘conflicting’ petrol subsidy position

The Presidency has criticised Atiku Abubakar's proposal to restore petrol subsidy if elected president. Special Adviser to President Bola Tinubu on Media and Public Communication, Sunday Dare, described the plan as an "arithmetic flaw" and an "economic safari".

According to Dare, selling crude oil to local refineries at preferential prices would create fiscal and market distortions, reducing government revenue and potentially creating artificial monopolies. This, he argued, would directly slash allocations to federal, state, and local governments for essential services such as schools, hospitals, and security.

Atiku's proposal involves supplying crude to domestic refiners below market value, which the Presidency claims would have negative economic consequences. The issue of fuel subsidy has become a contentious topic in Nigerian politics, with Atiku's declaration sparking a debate about bringing down the cost of living, which has soared beyond the reach of the majority.

Brief written by urgent.news from Punch, Daily Post Nigeria, Punch Nigeria, Daily Trust — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.