TINUBU’S AIDE CRITICISES ATIKU’S PLAN TO RESTORE FUEL SUBSIDY
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By; Sunmola Ganiyat
Special Adviser to President Bola Tinubu on Media and Public Communication, Sunday Dare, has criticised former Vice President Atiku Abubakar’s proposal to restore fuel subsidy, describing the plan as economically flawed.
Dare argued that Atiku’s proposal to supply crude oil to local refineries at discounted or preferential prices could create fiscal and market distortions.
The presidential aide stated this in a post on his X handle on Wednesday while reacting to Atiku’s renewed pledge to restore fuel subsidy if elected president in 2027.
According to Dare, selling federation crude below market value would reduce government revenue and create a shortfall in the Federation Account, potentially affecting allocations to the federal, state and local governments.
He also warned that preferential crude allocations could create artificial monopolies, undermine smaller modular refineries and conflict with the deregulation provisions of the Petroleum Industry Act.
Dare further argued that a significant difference between petrol prices in Nigeria and neighbouring West African countries could encourage cross-border fuel smuggling.
His comments followed Atiku’s clarification that he remained committed to restoring fuel subsidy if elected president, after his media aide, Paul Ibe, suggested that the policy would eventually be phased out.
Atiku had insisted that Nigerians were entitled to government support, saying the country was wealthy enough to cater to the welfare of its citizens.
The debate comes amid continued controversy over the petrol subsidy removal announced by President Tinubu on May 29, 2023, with the Federal Government defending the policy as necessary for fiscal sustainability while critics blame it for worsening living costs.
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