Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has offered to provide technical advice to the Bola Tinubu administration on policies that could reduce the hardship Nigerians are experiencing.
Atiku, a former vice president, said the hardship facing Nigerians had become overwhelming, referencing the high cost of petrol, transportation and basic living expenses.
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He urged President Tinubu to use the remaining eight months of his first term to take bold steps to reduce the burden on Nigerians.
Atiku spoke at a press briefing in Abuja on Friday.
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“The President should know that eight months may sound short inside Aso Rock. But eight months is a very long time when you are living from hand to mouth. Use that time to reduce the burden on Nigerians.
“And if your government requires policy ideas or technical input on how to bring relief, I am prepared to make mine available. Nigerians do not have to wait for another administration before they benefit from an idea that can help them today,” he said.
Atiku said he was willing to provide the advice to Mr Tinubu at no cost if the president was interested in his framework.
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He said the administration could rename the policy and take credit for implementing it as long as Nigerians benefited from it.
“If you need the framework, I will provide it. Implement it under your government. Give it whatever name you choose. Take the credit. I ask for only one thing: Let Nigerians breathe.
“I am prepared to compete with you politically. But I will never compete with the welfare of the Nigerian people. The presidency may be contested. The well-being of Nigerians should never be,” he added.
The petrol subsidy has long been a subject of debate among Nigerians, with successive governments arguing that it must be removed because the government can no longer afford it. However, proponents argued that its removal would worsen the plight of millions of Nigerians by increasing the prices of goods and services.
President Tinubu, who defeated Atiku in the 2023 presidential election, announced the end of petrol subsidy on 29 May 2023, the day he was sworn into office.
The removal of the petrol subsidy, alongside the floating of the naira, contributed to Nigeria’s cost-of-living crisis, the worst in a generation, as the prices of goods and services tripled across the country.
The government has, however, defended the policy, saying it has eliminated waste and corruption and made more money available for investment in critical sectors, education, and infrastructure.
Production subsidy proposal
Atiku said if elected president in 2027, he would introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians.
“If elected, from May 29, 2027, I will introduce a transparent production subsidy for petroleum products refined in Nigeria and sold to Nigerians,” he said.
He also urged the Tinubu administration to adopt policies that would boost local rice production and facilitate the transportation of agricultural produce.
“Think of a Nigerian rice miller. The government helps reduce milling costs, allowing rice to be sold at lower prices. More families can afford it. As sales grow, the miller buys more rice from Nigerian farmers and employs more Nigerians to process, package and transport it. That means cheaper rice for families, more business for farmers and more jobs for Nigerians,” he said.
Atiku said his proposed production subsidy would help reduce the cost of goods and services while promoting local production, subject to approval by the National Assembly.
“Our production subsidy will work the same way; government support must bring prices down. Only products confirmed to be refined in Nigeria will qualify. Imported products will not. The programme will have a fixed spending limit, National Assembly approval and independent audits.
“For the remaining eight months, President Tinubu should use every responsible instrument available to reduce the burden on Nigerians. Bola Tinubu should not be ashamed to do it because Atiku Abubakar proposed it,” he added.
Atiku also promised that, if elected, he would build an economy focused on increasing production, creating jobs and improving Nigerians’ purchasing power.
“And if elected, I will work to build an economy in which growth is not merely announced in Abuja but felt in Nigerian homes—an economy where more production means more jobs.
Where more revenue means better lives. Where economic growth means greater purchasing power. And where the Nigerian family can once again afford the necessities of life. Because ultimately, Nigerians do not live on statistics. They live on what their hard-earned money can buy,” he stated.
Reliance on palliatives
Atiku also urged President Tinubu to intervene directly to address the causes of the economic hardship rather than relying primarily on palliatives.
“If responsible intervention can lower prices, intervene. If changing course can help Nigerian families, change course. And Nigerians do not need another elaborate palliative ceremony.
“Do not make life unbearable and then distribute bags of rice as evidence of compassion. Do not break a man’s legs, hand him crutches and demand applause for providing mobility.
“Emergency assistance has its place, but palliatives cannot substitute for sound economic policy. A bag of rice cannot repair an economy in which transportation costs outrun salaries. A cash transfer cannot permanently compensate a worker whose income is continuously eroded by energy costs. Palliatives manage pain,” he said.
Electricity subsidy
The ADC presidential candidate also criticised the proposed phasing out of electricity subsidies from 2027, saying the move could further increase the financial pressure on households and businesses.
“Good policy addresses the source of the pain, and as if the pressure on families were not enough, Nigerians are now being told that electricity subsidies will be phased out from 2027. Electricity is already expensive. Families are calculating how long their units will last,” he said.
Atiku illustrated the impact of high electricity costs on small businesses and manufacturers.
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“Small businesses are struggling to keep the lights on. Manufacturers are spending enormous amounts on electricity, diesel and alternative power to keep factories running. How much more can the Nigerian family carry?
“The barber needs electricity for his clippers. The tailor needs it for her machines. The frozen-food seller needs it to preserve her stock. The welder needs it for his equipment. The manufacturer needs it to keep the factory alive. The lesson of petrol must not be repeated with electricity.
“Do not remove first and think later. Do not impose the pain first and search for palliatives afterwards. When energy becomes unaffordable, everything becomes unaffordable,” he said.
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