Atiku urges Tinubu to cut petrol prices, ease cost-of-living crisis
By KEMI KASUMU
“What matters to me is that Nigerians pay less. A sensible idea does not become a bad idea because it came from your opponent.”
Former Vice President Atiku Abubakar has called on President Bola Tinubu to take urgent steps to reduce petrol prices and ease the cost-of-living burden on Nigerians.
Atiku, in an address on fuel prices, palliatives and the cost of living, said Nigerians had continued to bear the consequences of the removal of petrol subsidy since May 29, 2023, without adequate protection for families, workers, farmers and businesses.
He said the impact of rising petrol prices had spread across the economy, affecting transportation, food prices, agricultural production, trade and household purchasing power.
“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive,” Atiku said.
“Farmers pay more to move produce. Traders pay more to stock their shops. Workers pay more to get to work. Businesses pay more for logistics and energy.
“In the end, the Nigerian family receives the bill.”
Atiku said his earlier call for the government to review its approach to petrol subsidy removal and consider intervention to reduce fuel costs had been dismissed by Tinubu as demonstrating “serious ignorance” of governance and the economy.
He, however, argued that subsequent developments had raised questions about the government’s approach.
“My dear Bola, events since then have raised a simple question,” Atiku said, asking whether the Nigeria Labour Congress, petroleum marketers, manufacturers and Nigerians struggling with the rising cost of transportation and food could all be regarded as “ignorant” for demanding relief.
He urged the government to listen to the concerns of workers, producers, marketers and ordinary citizens.
“If everybody who questions your policy is ignorant, while only the President is presumed to be wise, then we have a leadership problem on our hands,” he said.
According to Atiku, leadership requires the willingness to confront the consequences of policies and make adjustments where necessary.
He also criticised the emphasis on macroeconomic indicators such as GDP growth, increased government revenue and higher allocations, arguing that Nigerians primarily assess the economy by their purchasing power.
“Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy,” he said.
Atiku said rising production costs were also putting pressure on manufacturers, while weak consumer purchasing power was making it difficult for businesses to sell their products.
“The goods are there. The need is there. What is missing is the purchasing power,” he said.
He argued that economic growth should translate into improved living standards, greater production and increased purchasing power for workers and households.
“Economic growth must enter the home. It must enter the market basket. It must show up in the purchasing power of the worker,” Atiku said.
The former vice president consequently called on Tinubu to use what he described as the remaining period of his administration to provide relief to Nigerians.
“That is why I am calling on Mr. Bola Tinubu to act now,” he said.
“He has approximately eight months remaining in office. Bola, I want you to use those eight months to give Nigerians relief.”
Atiku also said Tinubu should not reject measures capable of reducing petrol prices merely because the ideas originated from a political opponent.
“Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol simply because Atiku Abubakar proposed a government intervention,” he said.
“He should just take the idea. Rename it if he wishes. And even take the credit.
“What matters to me is that Nigerians pay less.
“A sensible idea does not become a bad idea because it came from your opponent.”
In another part, Atiku gave details on his plan to return to the fuel subsidy.
“If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians. Our production subsidy will work the same way: government support must bring prices down. Only products confirmed to be refined in Nigeria will qualify. Imported products will not. The programme will have a fixed spending limit, National Assembly approval and independent audits,” said the ADC Presidential Candidate.
