Key Takeaways
- The All Progressives Congress (APC) Presidential Campaign Council has demanded a comprehensive explanation from African Democratic Congress (ADC) presidential candidate Atiku Abubakar regarding his proposed fuel subsidy for locally refined products.
- The APC questions the legal, fiscal, and operational framework of Abubakar's plan, particularly how it would ensure lower pump prices and align with the Petroleum Industry Act (PIA).
- The council highlighted Abubakar's past inconsistent stance on fuel subsidy removal and called for transparency on the proposal's cost, funding, and safeguards against abuse.
- The Tinubu administration, in contrast, is promoting Compressed Natural Gas (CNG) and electric mass transit as sustainable alternatives to fuel subsidies.
- The APC insists that Nigerians deserve a detailed policy document and independent analysis of Abubakar's proposal before the 2027 general election.
The All Progressives Congress (APC) Presidential Campaign Council has challenged African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, to provide a detailed explanation of the legal, fiscal, and operational framework for his proposed fuel subsidy. Council Spokesperson Mr. Dele Alake articulated this demand on Sunday in Abuja, following Abubakar’s recent advocacy for targeted support for locally refined petroleum products.
The APC council questioned how government support for domestic refiners would translate into lower pump prices under the existing petroleum-sector framework. They asked if refiners would sell at prescribed prices; if so, Abubakar must identify the legal framework and explain its consistency with the Petroleum Industry Act (PIA). If not, he must detail how public support guarantees lower pump prices.
Fiscal and Operational Scrutiny
Beyond legalities, the APC-PCC demanded disclosure of the proposal's projected cost, annual spending ceiling, funding source, volume covered, and safeguards against diversion and fraud. Any intervention involving preferentially priced crude for domestic refineries could significantly impact Federation Account revenue, necessitating transparent costing. They also inquired if PIA amendments would be required, noting appropriation alone might not resolve regulatory complexities.
Atiku's Shifting Stance Under Fire
The APC highlighted Abubakar’s perceived inconsistency on fuel subsidy. The council recalled Abubakar's 2022 description of the petrol subsidy system as "fraudulent," his pledge for its removal, and his later statement, "I will restore it!\