Isaac Samuel
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has warned President Bola Tinubu against removing electricity subsidies from 2027, saying the move could worsen the economic pressure on households and businesses.
Atiku, at a press conference in Abuja on Friday, said Nigerians were already struggling with high energy costs and that the planned phase-out of electricity subsidies could further increase the burden.
He said small businesses, manufacturers and other electricity consumers were already spending heavily on electricity, diesel and alternative sources of power.
“The lesson of petrol must not be repeated with electricity,” Atiku said.
“Do not remove first and think later. Do not impose the pain first and search for palliatives afterwards.”
The former vice president also urged Tinubu to take immediate steps to reduce petrol prices, arguing that high fuel costs had contributed to increased transportation, food and logistics expenses.
According to him, Nigerians had borne the consequences of petrol subsidy removal since May 29, 2023, without adequate protection for families, workers, farmers and businesses.
“When government makes energy expensive, it makes life expensive,” he said.
Atiku criticised the Federal Government’s reliance on palliatives to cushion the effects of economic hardship, saying temporary interventions could not substitute for sound economic policies.
“Palliatives manage pain. Good policy addresses the source of the pain,” he said.
He questioned the emphasis on higher government revenues and economic growth, arguing that Nigerians ultimately measure economic performance by what their incomes can purchase.
“If government receives more naira while the citizen’s naira buys less food, less fuel, less electricity and less transportation, then bigger government revenues mean little to the family struggling to survive,” Atiku said.
He urged Tinubu to use the remaining months of his administration to provide relief for Nigerians and offered to provide the government with his policy
framework for reducing the cost of petrol.
“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.”
Atiku said political rivalry should not take precedence over Nigerians’ welfare, adding that he remained prepared to compete with Tinubu politically.
“I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people,” he said.
He said that if elected in 2027, his administration would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians.
According to him, only locally refined products certified under the programme would qualify, while imported petroleum products would be excluded.
Atiku said the proposed scheme would have a fixed spending limit, National Assembly approval and independent audits.
He added that his broader economic vision was to build an economy where growth translates into increased production, jobs, purchasing power and improved living standards.
