Atiku’s subsidy return plan could push petrol price to ₦4,000 per litre, says APC Kwankwaso
Kola Oyelere, Kano
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A member of the All Progressives Congress (APC) Presidential Campaign Council, Dr Musa Illiyasu Kwankwaso, has warned that a proposed return to fuel subsidy by the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, could push petrol prices to ₦4,000 per litre.
Kwankwaso said reversing the removal of fuel subsidy could place an enormous financial burden on the Federal Government and threaten spending on workers’ salaries, education, healthcare, pensions and infrastructure.
He argued that the removal of fuel subsidy by President Bola Ahmed Tinubu’s administration had helped ease pressure on public finances, enabling governments at different levels to meet their salary obligations more consistently and execute development projects.
Kwankwaso, who is also the Director of Finance at the Hadejia Jama’are River Basin Development Authority, said Nigerians should carefully examine the financial implications of restoring the subsidy before supporting such a policy.
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“As it is now, President Tinubu has, after the removal of the subsidy, stabilised the economy and improved foreign savings, while schoolchildren are enjoying massive Federal Government support,” he said.
He warned that a return to the previous subsidy arrangement could trigger renewed fuel queues and make it more difficult for the government to meet its financial obligations.
According to him, the debate over fuel subsidy should not be limited to political arguments but should focus on how the government intends to finance the policy without recreating the fiscal challenges associated with the former arrangement.
Kwankwaso further maintained that the savings from subsidy removal had helped state governments across the federation to pay workers’ salaries more consistently while pursuing infrastructure development.
He cited major federal infrastructure projects, including the Lagos-Calabar Coastal Highway, Kano-Abuja Highway and Kano-Maiduguri Highway, as examples of projects being undertaken under the Tinubu administration.
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The APC chieftain urged Nigerians to scrutinise Atiku’s proposal to restore fuel subsidy, stressing the need to consider its potential financial implications before reversing the current policy.
He also called for continued support for the Tinubu administration, arguing that the government’s economic policy direction should be sustained.