The 2027 presidential race is already heating up, and fuel subsidy has become a major talking point. Kayode Oladele, chairman of the Ogun APC campaign planning committee, has criticised Atiku Abubakar’s fuel subsidy plan.
Oladele described the proposal as a fresh attempt to repackage Nigeria’s old subsidy system. Atiku, the African Democratic Congress presidential candidate, proposed a capped and budgeted production subsidy for petrol refined in Nigeria.
The proposal would cover petrol from local and modular refineries. However, imported petrol would not qualify for the intervention. Atiku also promised that the government would publish and independently audit the payments.
Oladele: “A Subsidy Remains a Subsidy”
Oladele said changing the name of the programme does not change its basic economic impact. According to him, government would still spend public money to reduce the cost of petrol.
“A subsidy remains a subsidy,” Oladele said.
“You may call it production subsidy, targeted subsidy, capped subsidy or give it any sophisticated economic description you like.”
The former federal lawmaker said Nigerians deserve clear answers before supporting such a policy. He asked Atiku to disclose the subsidy rate and the amount of petrol that would qualify.
Oladele also wants details about the annual spending limit and funding source. More importantly, he questioned how the government would ensure Nigerians receive the benefits at filling stations.
APC Defends Tinubu’s Economic Approach
Oladele also defended President Bola Tinubu’s decision to remove petrol subsidy. He said the administration wants to change Nigeria’s energy and transport system instead of returning to permanent fuel support.
He pointed to Compressed Natural Gas as part of the government’s alternative transport strategy. According to him, expanding CNG use could reduce commercial transport’s dependence on petrol.
“One approach asks the government to continue absorbing part of the price of a commodity,” Oladele said.
“The other seeks to change the underlying cost structure by creating alternatives.”
Oladele Wants Nigerians to See the Numbers
Despite defending the government, Oladele admitted that Tinubu’s reforms have created adjustment pressures. He said Nigerians should judge the administration by measurable results.
At the same time, he acknowledged Atiku’s right to propose a different economic programme. However, he said the opposition candidate must explain how he would finance his promises.
“It is very easy during an election season to promise cheaper petrol, cheaper food, cheaper electricity and cheaper transportation,” Oladele said.
He added that the harder task involves funding those promises without recreating Nigeria’s previous fiscal problems.
Oladele therefore urged Nigerians to examine both approaches carefully. While Tinubu backs structural reforms and alternatives, Atiku proposes government intervention through a targeted petrol subsidy.
“Before anybody asks Nigerians to travel that road again, even under a different name, he owes them the numbers,” Oladele said.
The debate over Atiku’s fuel subsidy proposal is likely to remain a key issue ahead of the 2027 election. For now, Oladele insists Nigerians need clear figures on its cost, funding and expected benefits before judging the proposal.
