Atiku’s fuel subsidy plan impracticable, financially unsustainable – Tinubu’s aide
Abdul’aziz Abdula’ziz, the Senior Special Assistant to President Bola Tinubu on Media and Public Enlightenment, has criticized former Vice President Atiku Abubakar’s proposal to restore the fuel subsidy if he is elected president. Abdula’ziz described the plan as impractical and financially unfeasible.
In an interview with DCL on Friday, Abdula’ziz explained that Nigeria’s existing subsidy regime imposes a significant strain on government finances. He highlighted that subsidy payments have reached approximately N1 trillion, suggesting that reinstating the policy would require a monthly allocation of at least N1.5 trillion at current consumption levels. He questioned the government’s ability to source such funding.
“If Atiku decides to bring back the subsidy, as he claims, you would actually be needing not less than N1.5 trillion every month to pay for the subsidy. Where can we get that money?” Abdula’ziz asked.
He also disputed claims that the elimination of the subsidy has created a substantial pool of funds available for government investment. Abdula’ziz stated, “When people say subsidy savings, yes, there is saving in a way, but it’s not like money you remove from somewhere. It’s just like you stop haemorrhage, you stop leakage.”
He further explained that funds previously allocated for subsidies have been redirected to support essential government services and projects. “Money that would have otherwise been used for subsidy has now been repurposed,” he added.
Acknowledging the challenges of immediate visibility in the benefits of subsidy reform, Abdula’ziz pointed out that economic reforms often take time to realize their impact. He cited the student loan program as a government initiative aimed at alleviating financial burdens on families, particularly those with multiple children in higher education.
“Reforms generally are not easy to come by, and the results may not be immediate,” he said, emphasizing the government’s commitment to supporting families through financial assistance.
His comments come in the wake of renewed political discourse regarding Nigeria’s fuel subsidy policy, particularly following Atiku’s recent pledge to consider reviewing or restoring the subsidy if elected in 2027.
