The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to restore petrol subsidy if elected president in 2027.
Atiku, who made the pledge in an interview on Wednesday, questioned how funds saved from the removal of the petrol subsidy had been utilised by the government.
He said he did not oppose the removal of the subsidy but argued that the savings should have been used to reduce poverty, improve education, address insecurity and create opportunities for young Nigerians.
“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said in Hausa.
He added that he would restore the subsidy if elected and ensure that anyone found to have stolen the funds refunds the money.
“Savings should have been used for development,” he said.
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Atiku said the removal of the subsidy could have been justified if the savings had been channelled into projects that directly benefit Nigerians.
According to him, the funds should have been used to tackle security challenges, improve education and create opportunities for young people.
“The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, for education, and to create opportunities for the youth, it would be different,” he said.
“If elected, I can remove the subsidy and use the money to do all these properly,” he added.
President Bola Tinubu announced the removal of the petrol subsidy during his inaugural address on May 29, 2023.
The policy led to an immediate increase in petrol prices and contributed to higher costs of goods and services across the country.
FG Says Subsidy Removal Generated N15.8trn
Atiku’s position comes as the federal government continues to defend the policy and highlight the revenue gains recorded since its implementation.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said on Wednesday that Nigeria generated N15.8 trillion in resources between June 2023 and December 2025 as a result of the removal of the petrol subsidy.
Oyedele said the increase was reflected in higher revenue collections, particularly following changes in the exchange rate and the naira value of dollar-denominated transactions.
Some state governors have also acknowledged that allocations from the Federation Account Allocation Committee increased significantly after the removal of the subsidy.
The subsidy remains one of the major economic and political issues likely to feature prominently in the 2027 presidential election.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.