Former Nigerian vice president and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has reiterated his promise to restore petrol subsidy if elected president in 2027, arguing that Nigeria has sufficient resources to protect citizens from the rising cost of fuel and its impact on living expenses.
Atiku made the declaration while receiving the Osun State leadership of the ADC in Abuja on Tuesday, maintaining that his position on petrol subsidy had not changed.
He said his proposed policy would focus on providing targeted relief to Nigerians rather than returning to the system he described as an import racket.
“On the question of subsidy, my position has not changed and will not change: I will restore it!” Atiku said, stressing that the economic strength of a country should not be measured solely by the amount of revenue collected by government.
The former vice president said the real measure of national wealth should include the purchasing power available to citizens. According to him, an economy cannot be considered prosperous when government revenue increases while the value of money in the pockets of Nigerians continues to decline.
“I believe the wealth of a nation is not measured by how much government collects, but by how much the money in the pockets of its people can buy,” he said.
Atiku said restoring the purchasing power of Nigerians would be a major priority under his proposed administration, with emphasis on making wages more valuable and reducing the costs that affect households, farmers and businesses.
He also pledged to support farmers by reducing transportation expenses, arguing that high logistics costs can significantly reduce the profits of producers moving their goods to markets. He similarly promised to create an environment where businesses can produce, employ workers and expand.
“I want wages to have value again. I want farmers to move produce without transport swallowing their profits. I want families to fill their baskets without emptying their pockets. I want businesses to produce, employ and prosper,” Atiku said.
The ADC candidate linked petrol prices to the broader cost-of-living crisis, arguing that increases in the price of fuel have consequences across the economy. He said higher petrol prices raise transportation costs, which subsequently increase food prices and place additional pressure on households.
“When fuel rises, transport rises. When transport rises, food rises. When food rises, families suffer,” he said.
He further promised to strengthen economic and physical security while pursuing policies aimed at making daily life more affordable.
“I will support Nigerian production, reduce energy costs, and restore purchasing power. I will not restore the import racket; I will restore relief,” he said.
Atiku concluded by presenting his proposed economic direction as one centred on improved living standards and greater security, promising “economic security, physical security” and a better life for Nigerians if given the opportunity to lead the country.
