Petrol at N1,470/litre: Atiku questions Tinubu’s govt on fuel subsidy savings

Former Vice President Atiku Abubakar has expressed concern over the recent surge in petrol prices to N1,470 per litre. In a statement released by his spokesperson Phrank Shaibu, Atiku highlighted the impact of this price hike on the already strained cost of living for Nigerians. He pointed out that every increase in fuel prices disproportionately affects households, especially concerning transportation and food expenses.

Atiku questioned the decision to eliminate fuel subsidies when those savings were not utilized to ease the financial difficulties experienced by Nigerians. He emphasized that "Petrol at N1,470 per litre is not merely a figure at the filling station. It enters the price of transportation, food, school runs, farming, manufacturing and virtually everything Nigerians buy.

Every increase at the pump travels directly into the household budget." Atiku further pointed out the stark contrast in petrol prices since the late President Umaru Musa Yar'Adua's administration, when crude oil was $147 per barrel and petrol was sold at N65 per litre. In contrast, with crude oil currently at around $102 per barrel, Nigerians are now paying as much as N1,470 per litre.