Fuel price: Take my idea, rename it, take the credit — Atiku tells Tinubu
By Luminous Jannamike
Former Vice President Atiku Abubakar has challenged President Bola Tinubu to adopt his proposal for government intervention to bring down petrol prices, telling him to take the idea, rename it and even claim the credit if that would make life easier for Nigerians.
Atiku said Nigerians had borne the consequences of petrol subsidy removal for more than three years, with the shock travelling from filling stations to transport fares, markets, businesses and ultimately household budgets.
He urged Tinubu to use the remaining eight months of his administration to reduce the cost-of-living burden rather than rely on palliatives to cushion policies that, according to him, were making life increasingly unaffordable.
In an address on fuel prices, palliatives and the cost of living, Atiku said the concerns being raised by workers, petroleum marketers, manufacturers and ordinary Nigerians showed that the impact of high energy costs could no longer be dismissed.
“When government makes energy expensive, it makes life expensive. This is no longer an argument between economists. It is the daily reality of millions of Nigerians,” he said.
Atiku recalled that Tinubu had previously dismissed his call for government intervention to reduce petrol prices as showing “serious ignorance” of governance and the economy.
But he said the subsequent experience of Nigerians had demonstrated the need for government to reconsider its approach, asking whether organised labour, petroleum marketers, manufacturers and citizens could all be regarded as ignorant for demanding relief.
“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen,” Atiku said.
He said leadership required the humility to acknowledge when a policy was producing damaging consequences and the courage to change direction.
“Leadership requires the humility to confront the consequences of policy and the courage to change course,” he said.
The former Vice President also questioned the emphasis on GDP growth, increased government revenue and larger allocations, arguing that Nigerians were more concerned about what their incomes could actually buy.
“Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy,” he said.
According to him, manufacturers were struggling with rising production costs while consumers were losing the purchasing power needed to buy the goods being produced.
“The goods are there. The need is there. What is missing is the purchasing power,” he said.
Atiku therefore called on Tinubu to act on his earlier proposal, insisting that the political ownership of an idea should not matter if its implementation could reduce hardship.
“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.”
Atiku also rejected reliance on palliatives as the principal response to the cost-of-living crisis, saying temporary relief could not replace policies capable of lowering the underlying cost of production and living.
“Do not make life unbearable and then distribute bags of rice as evidence of compassion. Palliatives manage pain. Good policy addresses the source of the pain,” he said.
Turning to electricity, Atiku warned against a repeat of the petrol subsidy experience as electricity subsidies are expected to be phased out from 2027.
He said households and businesses were already struggling with electricity costs, while manufacturers were spending heavily on electricity, diesel and alternative sources of power to keep their operations running.
“The lesson of petrol must not be repeated with electricity. Do not remove first and think later. Do not impose the pain first and search for palliatives afterwards,” Atiku said.
He urged Tinubu to use the remaining eight months of his tenure to reduce the burden on Nigerians, offering to make his policy framework available to the administration if required.
“Nigerians do not have to wait for another administration before they benefit from an idea that can help them today,” he said.
“If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit.”
Atiku also outlined his proposed approach to petrol pricing if elected President in 2027, promising a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians.
He said the scheme would support domestic refining while ensuring that government intervention translated into lower prices, adding that imported petroleum products would not qualify.
According to him, the programme would have a fixed spending limit, require National Assembly approval and be subject to independent audits.
Atiku likened the proposal to government support for a Nigerian rice miller, saying lower milling costs could translate into cheaper rice, increased demand for locally produced paddy, more business for farmers and additional jobs in processing, packaging and transportation.
He said the same principle should apply to petroleum: government support should be tied to domestic production and lower prices for consumers.
Atiku maintained that the ultimate test of economic reform was its effect on households rather than the size of government revenues or official growth figures.
“I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people,” he said.
“The presidency may be contested. The wellbeing of Nigerians should never be.”
He said his proposed economic programme would seek to expand production, create jobs and ensure that economic growth translated into greater purchasing power.
“Ultimately, Nigerians do not live on statistics. They live on what their hard-earned money can buy,” Atiku said.
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