Atiku faults Tinubu over rising fuel, fertiliser prices

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Former Vice President Atiku Abubakar

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…Cites CORAN, Trump in support of production subsidy

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By Omeiza Ajayi

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ABUJA — Presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, has faulted President Bola Tinubu’s handling of fuel subsidy removal, citing increases in the prices of petrol, fertiliser and cement as evidence of the rising cost of living under the administration.

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Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, said fertiliser had risen from about N9,000 to N50,000, petrol from about N199 to N1,400 per litre and cement from roughly N4,000 to N13,500.

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He also cited the movement of the naira-dollar exchange rate from about N450 to N1,400, arguing that Nigerians were experiencing the impact of the increases in their daily lives.

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The former vice-president said Tinubu’s removal of fuel subsidy had increased the cost of fuel, transportation and food, while criticising the President’s opposition to his proposal for a production subsidy aimed at reducing the burden on consumers.

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Atiku also cited the position of the Crude Oil Refinery Owners Association of Nigeria, CORAN, on support for domestic refining, as well as United States President Donald Trump’s policies to strengthen petroleum production and refining in America, arguing that targeted support for domestic production could benefit Nigeria.

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“Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it. He took away relief from the people, made fuel, food, transport and basic survival more expensive, and now wants Nigerians to applaud statistics while their pockets are empty,” Atiku said.

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He also referenced reports that a significant portion of the short-term assets of some major Nigerian companies was tied up in unpaid customer bills.

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According to him, the situation reflects declining purchasing power, as businesses may record sales but increasingly struggle to collect payments from customers.

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Illustrating the impact of rising costs, Atiku cited the experience of a frozen-food seller in Kubwa, Abuja, who he said now spends more on transportation, electricity and restocking while her customers increasingly buy less or request goods on credit.

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He argued that the situation could create a chain of unpaid obligations among retailers, suppliers and other businesses.

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Atiku further criticised what he described as inadequate improvements in electricity, security and employment opportunities, while citing the high cost of food and transportation.

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“And after all this pain, what has the ordinary Nigerian received? No reliable electricity. Loan for a degree. No security. No N-Power. Food is expensive. Transport is expensive. Life itself has become expensive. What exactly are Tinubu’s defenders defending?” he asked.

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Atiku said his proposed production subsidy was aimed at supporting locally produced and refined goods, increasing supply and ensuring that consumers benefited from lower prices.

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He said the proposal would involve monitoring prices to ensure that the benefits of government support reached consumers.

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The former vice-president argued that while CORAN had called for support for domestic production and the United States had recognised the importance of supporting strategic energy production, the Federal Government was opposed to measures aimed at providing relief to consumers.

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He also alleged that the Tinubu administration had granted waivers, incentives and concessions to multinational oil companies and other businesses.

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Atiku urged Nigerians to reject what he described as policies that had increased economic hardship and support an alternative programme focused on reducing the cost of living.

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“Enough of empty pockets. Enough of endless hardships. Nigeria must produce more, Nigerians must pay less, and families must have money left to live. Tinubu made life expensive. Atiku will make life affordable again,” he said.

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