Atiku outlines framework for domestic fuel subsidy

Former Vice President Atiku Abubakar has outlined a framework for a domestic fuel subsidy model, asserting that his proposal is distinct from the previous petrol subsidy regime. He stated that Dangote Refinery's warning against government-imposed petrol prices that could force refiners to operate at a loss vindicates his proposal, rather than undermining it.

Atiku's model aims to reduce the cost of crude feedstock supplied to Nigerian refineries and allow them to produce petrol at a lower cost, while preserving legitimate refining costs and a reasonable commercial margin. The proposal is designed to avoid compulsion for private refiners to sell petrol below cost, emphasizing that government support would be directed at domestic refining rather than imported petroleum products.

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