Former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has said he will not resurrect the old fuel subsidy regime in Nigeria if elected president in the 2027 general election.
He disclosed this in a statement by his media team on Wednesday, explaining how he would cut the price of petrol.
DAILY POST reports that in a recent interview, Atiku had backed the return of fuel subsidy in Nigeria’s petroleum sector.
In a fresh detail on Wednesday, Atiku explained that his administration, if elected, would replace Nigeria’s old import-subsidy architecture with a targeted, capped, transparently budgeted and independently audited production subsidy designed to lower energy costs while accelerating domestic refining.
“My proposal is not to resurrect the old subsidy regime. We will move subsidy from importation to production, from middlemen to Nigerian refineries, and from unverifiable claims to verifiable barrels.
“The principle is simple: the
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