Former Vice-President Atiku Abubakar has urged President Bola Tinubu to urgently reduce petrol prices and ease the burden of rising living costs on Nigerians Atiku made the call on Friday in Abuja while addressing the nation on fuel prices, palliatives and the cost of living, saying the removal of petrol subsidy had continued to worsen transportation, food and production costs. “Use that time to reduce the burden on Nigerians. If your government requires policy ideas or technical input on how to bring relief, I am prepared to make mine available. If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit. I ask for only one thing: Let Nigerians breathe,” he said. Atiku said Nigerians had endured the consequences of petrol subsidy removal since May 29, 2023, without adequate protection for families, workers, farmers and businesses.
He said the increase in petrol prices had triggered a chain reaction across the economy, with higher transportation costs feeding into food prices, farming, trading and business operations “When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive,” he said. According to him, farmers now spend more to transport their produce, traders pay more to stock their shops, while workers spend more to commute and businesses face rising logistics and energy costs. “In the end, the Nigerian family receives the bill,” he said. “When government makes energy expensive, it makes life expensive.” Atiku also criticised Tinubu for dismissing his earlier call for government intervention to reduce petrol prices. He recalled that the president had described his proposal as demonstrating “serious ignorance” of governance and the economy. But Atiku asked whether the Nigeria Labour Congress, petroleum marketers, manufacturers and millions of Nigerians who have raised concerns over the cost of fuel could also be described as ignorant. “When workers, producers, marketers and ordinary families are all raising the alarm, government must listen,” he said. The former vice president urged Tinubu to demonstrate the willingness to review policies that had worsened economic hardship, saying leadership required “the humility to confront the consequences of policy and the courage to change course.” He also faulted the Federal Government’s reliance on palliatives, saying relief materials could not replace policies capable of reducing the underlying cost of living. “Palliatives manage pain. Good policy addresses the source of the pain,” Atiku said. He added, “Do not make life unbearable and then distribute bags of rice as evidence of compassion.” Atiku warned the government against repeating the experience of petrol subsidy removal with electricity subsidies, saying the planned phase-out of electricity subsidies from 2027 could further increase pressure on households and businesses. “The lesson of petrol must not be repeated with electricity,” he said. “Do not remove first and think later. Do not impose the pain first and search for palliatives afterwards.” He said small businesses and manufacturers were already struggling with high electricity and diesel costs, while households were also finding it increasingly difficult to meet basic expenses. Atiku urged Tinubu to use the remaining period of his administration to lower energy costs and improve Nigerians’ purchasing power. He said the president should not reject a policy proposal simply because it came from a political opponent. “Bola Tinubu should not be ashamed to do it because Atiku Abubakar proposed it,” he said. “And if responsible intervention can lower prices, intervene. If changing course can help Nigerian families, change course.” Atiku said he was willing to provide the Tinubu administration with a framework for reducing fuel prices, adding that the government could adopt the proposal, give it another name and take credit for it. “What matters to me is that Nigerians pay less,” he said. The former vice president also outlined his proposed petroleum policy ahead of the 2027 presidential election, saying he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians if elected. He said only products confirmed to have been refined locally would qualify for the subsidy, while imported products would be excluded. According to him, the proposed programme would operate within a fixed spending limit and require National Assembly approval and independent audits. Atiku said the policy would encourage domestic production while helping to lower prices for consumers. He also linked the proposed intervention to the broader need to make economic growth translate into improved living standards. “Economic growth must enter the home. It must enter the market basket. It must show up in the purchasing power of the worker,” he said. Atiku said Nigerians ultimately judged the economy by what their incomes could buy, rather than by increases in government revenue or GDP. “Nigerians do not live on statistics. They live on what their hard-earned money can buy,” he said. He said the government still had time to reduce the hardship facing Nigerians, stressing that the remaining months of Tinubu’s tenure could make a difference to households struggling with rising costs. “I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people,” Atiku said. “The presidency may be contested. The wellbeing of Nigerians should never be,” he added.