Presidency slams Atiku over ‘conflicting’ petrol subsidy position

The Presidency has criticised Atiku Abubakar's petrol subsidy positions, demanding clarity on his proposed 'targeted subsidy'. According to the Presidency, Atiku's plan to restore petrol subsidy if elected president would create fiscal, market, and smuggling challenges.

The Presidential aide, Sunday Dare, described Atiku's proposal as an 'arithmetic flaw' and an 'economic safari'. He argued that selling crude oil to local refineries at preferential prices would reduce the revenue available to the three tiers of government, slashing allocations to federal, state, and local governments for schools, hospitals, and security.

Dare also cautioned that preferential crude pricing could distort competition in the downstream petroleum sector, risking artificial monopolies and destabilising smaller indigenous modular refiners, according to Daily Post Nigeria.

Brief written by urgent.news from Punch Nigeria, Punch, Daily Post Nigeria — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.