2027: Explain how fuel subsidy plan will work, APC tells Atiku

The All Progressives Congress (APC) Presidential Campaign Council has challenged the presidential candidate of the African Democratic Congress, Atiku Abubakar, to clarify the legal and financial foundation of his proposed production subsidy for locally refined petrol. Atiku had previously urged President Bola Tinubu to reduce petrol and diesel prices and suggested a production subsidy as a means of lowering pump prices.

The APC-PCC's spokesman, Dele Alake, cited Section 205(1) of the Petroleum Industry Act (PIA) 2021, stating that wholesale and retail prices of petroleum products should be based on unrestricted free-market pricing conditions. He questioned whether a refinery receiving the proposed subsidy would be required to sell petrol at a fixed price and how the government would enforce the price condition.

Alake also requested Atiku to disclose the cost of the subsidy and the mechanism to ensure reduced pump prices at filling stations.