Why Atiku’s subsidy plan is flawed – Tinubu’s aide

Sunday Dare, a Special Adviser to President Bola Tinubu on Media and Public Communication, has criticised presidential candidate of the African Democratic Congress, Atiku Abubakar's proposal to subsidise crude oil for local refineries. Dare argued that the subsidy would cause fiscal and market distortions. He stated that selling federation crude at preferential prices would reduce government revenue, creating an "immediate fiscal hole" in the Federation Account.

Dare also warned that the arrangement could create artificial monopolies, destabilise smaller indigenous refiners, and violate the Petroleum Industry Act (PIA). Additionally, he cautioned that the scheme could revive cross-border fuel smuggling due to a price gap between Nigerian pump prices and those in neighbouring West African markets.

Atiku had recently reiterated his stance on restoring fuel subsidy if elected in 2027, while distancing himself from comments suggesting a gradual phase-out of the subsidy.