The Presidency has criticised former Vice-President Atiku Abubakar over his opposition to the federal government’s fuel pricing measures, arguing that Nigerians should not sacrifice long-term economic stability for what it described as short-term political promises.
In a statement issued by Dr Sunday Dare, Special Adviser to President Bola Tinubu on Media and Public Communication, the Presidency accused Atiku, who is associated with the African Democratic Congress (ADC) ahead of the 2027 presidential election, of engaging in what it called shallow political rhetoric over the administration’s economic policies.
The statement, titled “Atiku’s Demagoguery in the Face of Tinubu’s Logical Policies”, followed Atiku’s recent press conference in Abuja, where he reportedly criticised NNPC Retail’s 30-day petrol discount and the government’s fuel price modulation framework.
The Presidency maintained that Tinubu’s administration had chosen a difficult but necessary path by combining market deregulation with measures intended to moderate sudden price increases. It cited strategic energy reserves, the expansion of compressed natural gas (CNG), and fiscal management as part of its approach to building a more sustainable economy.
“The Nigerian electorate is far too sophisticated to trade long-term national economic security for Atiku’s shallow, short-term demagoguery,” the statement said.
The Presidency also accused Atiku of being disconnected from global economic realities and overly focused on securing political power.
Presidency Defends Fuel Price Measures
The federal government argued that its approach to fuel pricing was consistent with efforts by other countries to help citizens manage rising energy costs without returning to broad fuel subsidies.
The statement cited the United Kingdom, where Prime Minister Andy Burnham reportedly offered motorists a Google Maps link to help them identify cheaper fuel stations. It also referred to Google’s fuel price feature, which allows drivers to compare petrol and diesel prices at nearby filling stations.
In the United States, the Presidency referenced an executive order titled “Emergency Tax Relief on Diesel Fuel”, reportedly signed by President Donald Trump on October 5, 2026, alongside an announcement concerning a diesel supply arrangement with Russia.
According to the statement, governments in nearly 10 other countries were also adopting different measures to ease the pressure of rising energy costs.
The Presidency argued that such interventions should not automatically be interpreted as a return to broad fuel subsidies, accusing Atiku of exploiting Nigerians’ economic difficulties for political advantage.
It described his criticism of the government’s measures as an attempt to use public frustration to gain electoral support rather than offer a financially sustainable alternative.
Presidency Rejects Atiku’s Production Subsidy Proposal
A major part of the Presidency’s response focused on Atiku’s reported proposal for a production subsidy to reduce the cost of petroleum products.
The government argued that Nigeria did not have enough freely available crude oil to support such a policy without undermining existing supply agreements or placing additional pressure on public finances.
The statement referred to figures cited by Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, who reportedly said Nigeria produces approximately 1.8 million barrels of crude oil daily for a population exceeding 200 million.
However, the Presidency stressed that total national production does not mean the federal government has unrestricted access to every barrel.
It explained that crude oil production is governed by joint ventures, production-sharing contracts, royalties, production costs and profit-sharing arrangements established over several decades.
After these obligations are taken into account, the statement claimed that Nigeria has fewer than 700,000 barrels per day of unencumbered crude oil available for other uses.
The Presidency argued that this limited volume would not be sufficient to supply major domestic refineries, including the Dangote Petroleum Refinery, without additional crude purchases from international markets.
It therefore described Atiku’s proposal for a broad production subsidy as economically impractical, warning that implementing it without adequate crude supplies could recreate the financial and transparency problems associated with Nigeria’s previous subsidy system.
The statement also compared Nigeria with other oil-producing countries.
It noted that the United States produces more than 10 million barrels of oil daily for a population of approximately 330 million, yet petroleum prices remain largely determined by market conditions.
It also cited Qatar, which has substantial gas reserves but has reduced energy subsidies to protect its long-term financial position.
The Presidency rejected comparisons between crude oil allocation and locally produced agricultural commodities such as garri and cassava, arguing that crude oil markets operate under different contractual and international pricing arrangements.
It warned that a production subsidy without sufficient resources to support it could encourage fraudulent transactions, financial losses and renewed pressure on government revenue.
Government Explains 30-Day NNPC Petrol Discount
The Presidency also rejected Atiku’s characterisation of NNPC Retail’s 30-day petrol discount as a return to fuel subsidies.
According to the statement, NNPC Retail initially introduced the discount to mark Nigeria’s 66th Independence anniversary before offering to extend it for another 30 days.
The government described the arrangement as a temporary price modulation measure rather than a return to government-funded subsidies.
It argued that NNPC Retail was choosing to forgo its profit margin and sell petrol at landing cost during a period of rising international crude prices, thereby absorbing some of the immediate pressure on consumers.
The Presidency said the intervention had the backing of Tinubu and was intended to moderate short-term price fluctuations without restoring an open-ended subsidy programme.
It also defended the federal government’s reported negotiation of an interim N1,350-per-litre ceiling on ex-gantry costs.
Under the proposed framework described in the statement, refiners and importers would absorb certain short-term cost increases above the ceiling and recover those costs later when international crude prices declined or local exchange rates improved.
The Presidency argued that this approach would provide greater stability for transport operators and commuters than allowing petrol prices to fluctuate sharply from day to day.
It explained that sudden increases in fuel prices often lead commercial transport operators to raise fares, but those fares do not always fall when fuel prices subsequently decline.
According to the statement, the proposed ceiling would be reviewed monthly using published cost audits to prevent hidden government liabilities from accumulating.
Presidency Lists Other Measures to Stabilise Energy Prices
Beyond the temporary petrol discount, the Presidency outlined several policies it said were designed to improve energy security and reduce the impact of global market disruptions on Nigerian consumers.
These include establishing a government-backed strategic energy reserve that could release refined petroleum products when international supply disruptions or private-sector hoarding threaten availability.
The administration is also expanding compressed natural gas infrastructure in partnership with state governments.
The Presidency said CNG could provide a cheaper alternative to petrol for commercial transport operators, estimating that it could cost between 60 and 70 per cent less than Premium Motor Spirit.
It also cited naira-for-crude arrangements intended to support domestic refining and reduce exposure to foreign exchange fluctuations.
Other measures mentioned in the statement included windfall taxes on energy operators accused of exploiting crises to increase profits, with the proceeds intended to support transport vouchers and minimum-wage assistance.
The government further said it was implementing the 2025 tax reform laws to dismantle illegal road levies and using NIPOST digital address codes to help reduce freight and food distribution costs.
The Presidency presented these initiatives as part of a broader strategy to improve the efficiency of the energy sector and reduce the burden of rising prices on households and businesses.
Presidency Defends Tinubu’s Reforms Since 2023
The statement also defended the administration’s major economic decisions since Tinubu took office in May 2023, particularly the removal of petrol subsidies and the unification of Nigeria’s foreign exchange markets.
According to the Presidency, these measures were necessary to prevent further deterioration of public finances and address longstanding distortions in the economy.
It argued that removing the fuel subsidy had ended a costly drain on government resources, allowing more funds to reach state and local governments through allocations from the Federation Account Allocation Committee (FAAC).
The government also claimed that the reforms had helped eliminate prolonged petrol queues that previously resulted from artificial scarcity, hoarding and unpaid subsidy claims.
On foreign exchange, the Presidency said the administration had reduced the gap between official and parallel market rates, curbing opportunities for currency round-tripping and improving confidence in Nigeria’s financial system.
The statement also highlighted social support measures, including direct cash transfers to vulnerable households, subsidised credit for micro and small businesses, and enhanced wage awards for civil servants.
It argued that these interventions were preferable to a system that subsidised fuel consumption for all motorists, including wealthy owners of large vehicles.
Infrastructure development was another area cited in defence of the government’s record. The Presidency referenced projects such as the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Superhighway and national rail networks, saying they were intended to strengthen transportation links, support commerce and encourage long-term economic growth.
The government maintained that the combination of energy, fiscal and infrastructure policies would help establish the conditions needed for lower inflation and sustained industrial development.
Presidency Accuses Atiku of Political Opportunism
In its concluding remarks, the Presidency accused Atiku of attempting to turn economic hardship into a political advantage by offering what it described as unrealistic solutions.
It argued that the country’s economic challenges had developed over decades and could not be resolved through short-term promises or emotionally appealing slogans.
The statement also took a personal swipe at Atiku, contrasting his educational background with Tinubu’s accounting qualification.
“First, it is sheer absurdity that a man who graduated from a school of hygiene dares to call a first-class accounting graduate a dull student,” the Presidency said.
It further argued that Atiku’s criticism of Tinubu’s economic policies failed to account for the financial and contractual constraints affecting Nigeria’s oil industry.
The Presidency warned that restoring an opaque subsidy system without sufficient crude oil supplies could bring back the problems of fuel scarcity, currency instability and mounting public debt that the current administration said it was trying to address.
It maintained that Nigerians should assess competing political proposals based on their financial feasibility and long-term impact rather than political rhetoric.
The statement concluded that Tinubu’s administration remained committed to its reform programme and that the government’s approach was aimed at establishing a more stable foundation for Nigeria’s future economic growth.
Source: Presidency statement issued by Dr Sunday Dare
