The Presidency has accused former Vice-President Atiku Abubakar of changing his position on petrol subsidy multiple times within a week, calling into question the coherence of his economic plan. Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated on Wednesday that conflicting messages from Atiku and his aides reflect policy confusion rather than a clear framework. The Presidency demanded that Atiku disclose the cost of his proposed targeted subsidy, identify its beneficiaries, explain how it would be funded, and state the conditions for its termination.
Atiku's spokesperson, Paul Ibe, initially said the former Vice-President would restore the subsidy and phase it out after election. However, senior aide Phrank Shaibu contradicted that, saying there would be no fixed end date and that subsidy would continue until domestic refining improved and market forces ensured affordability. Atiku later insisted his position "has not changed," reaffirming his plan to implement a "targeted subsidy" to boost purchasing power. Onanuga dismissed these explanations as inconsistent, stressing that differences went beyond semantics and amounted to serious policy contradictions.
Onanuga argued that competition alone cannot shield Nigeria from global crude prices or exchange rate fluctuations, and warned against oversimplifying the link between petrol prices and food inflation. He cited multiple factors including insecurity, logistics, flooding and money supply as contributors to food costs. He credited the Tinubu administration with stabilising the macroeconomic environment over the past three years and urged Atiku to stop shifting positions and present a clear, costed policy. The Presidency warned against replacing the old subsidy system with another opaque and expensive arrangement under a different name.
Atiku claims his subsidy position hasn't changed, yet his camp has offered three different versions of how it would work. This mismatch between his statement and his aides' explanations leaves Nigerians unable to assess the real cost or duration of his proposed policy.
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