2027: I’ll Bring Back Petrol Subsidy if Elected President, Atiku Vows 

The presidential candidate of the African Democratic Congress, ADC, former Vice President Atiku Abubakar, has pledged to restore petrol subsidy if elected president in the 2027 general election.

Atiku made the promise during an interview on Wednesday, arguing that Nigerians have not seen sufficient evidence of how funds saved from the subsidy removal have been utilised.

He said he did not oppose the initial removal of the subsidy but questioned where the savings had gone, insisting that the funds were expected to reduce poverty, improve education and support national development.

“If elected, I will bring back the oil subsidy, and whoever stole the money must refund it,” Atiku said.

The former vice-president said subsidy removal would have been justified if the resulting savings had been invested in critical sectors such as security, education, infrastructure and job creation.

According to him, the policy should be reviewed if the government cannot demonstrate that the resources generated from it are benefiting Nigerians.

President Bola Tinubu announced the removal of the petrol subsidy during his inauguration speech on May 29, 2023, triggering a sharp increase in fuel prices and the cost of goods and services.

The policy has, however, also resulted in increased federal allocations to states, with several governors acknowledging higher monthly receipts from the Federation Account.

Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said on Wednesday that the removal of the petrol subsidy had generated N15.8 trillion in resources for the federation between June 2023 and December 2025.

Oyedele attributed the increase partly to higher revenue collections and the naira value of dollar-denominated transactions following the exchange-rate reforms.