Former Vice President and presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, has called on President Bola Tinubu to act immediately to lower petrol prices, warning Nigerians that a planned phase-out of electricity subsidies from 2027 will further worsen hardship.

Atiku stated this on Friday at his residence in Abuja while addressing issues of fuel prices, palliatives and the cost of living.

He said since the removal of petrol subsidy on May 29, 2023, Nigerians have lived with consequences without adequate protection for families, workers, farmers and businesses.

“For more than three years, that burden has travelled from the petrol station to the bus stop, from the bus stop to the market, and from the market to the family dining table,” he said.

According to him, expensive petrol raises transportation costs, which in turn raises food and production costs.

“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive. 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,” he said.

Atiku recalled that when he first proposed a review of the subsidy withdrawal approach and responsible intervention to bring down fuel costs, President Tinubu dismissed his proposal as demonstrating “serious ignorance” of governance.

He said current calls by labour, marketers, manufacturers and citizens for intervention show the concerns are widely shared.

“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen. 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,” Atiku said.

He said manufacturers face rising costs and unsold goods, while families lack purchasing power.

“The goods are there. The need is there. What is missing is the purchasing power,” he said, adding that economic growth must reflect in what citizens can afford.

“Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy. 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.

Atiku urged President Tinubu to use his remaining months in office to provide relief.

“He has approximately eight months remaining in office. Bola, I want you to use those 8 months to give Nigerians relief,” he said.

He said Tinubu should not hesitate to adopt useful ideas regardless of their source.

“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 should just take the idea. Rename it if he wishes. And even take the credit. What matters to me is that Nigerians pay less,” he said.

Atiku criticised the reliance on palliatives as a substitute for policy.

“Do not make life unbearable and then distribute bags of rice as evidence of compassion. Do not break a man’s legs, hand him crutches and demand applause for providing mobility. Palliatives manage pain. Good policy addresses the source of the pain,” he said.

On electricity, Atiku warned against repeating the petrol subsidy approach, citing reports that electricity subsidies will be phased out from 2027.

“If you elect Bola Tinubu again, blame yourself. Electricity is already expensive. Families are calculating how long their units will last. Small businesses are struggling to keep the lights on. Manufacturers are spending enormous amounts on electricity, diesel and alternative power simply to keep factories running,” he said.

He listed artisans and businesses dependent on electricity, including barbers, tailors, frozen-food sellers, welders and manufacturers, and said unaffordable energy makes everything unaffordable.

Atiku said if elected from May 29, 2027, he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians, with a fixed spending limit, National Assembly approval and independent audits.

He explained that only products confirmed to be refined in Nigeria would qualify.

“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,” he said.

He offered to make his framework available to the current administration.

“And if your government requires policy ideas or technical input on how to bring relief, I am prepared to make mine available. Nigerians do not have to wait for another administration before they benefit from an idea that can help them today. If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit,” Atiku said.

“I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people. The presidency may be contested. The wellbeing of Nigerians should never be,” he added. (Tribune)