Atiku’s subsidy return plan could push petrol price to N4,000/liter—APC’s Kwankwaso

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 African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, could push petrol prices to ₦4,000 per litre and worsen the country’s socioeconomic challenges.

Kwankwaso said reversing the removal of fuel subsidy could impose a heavy financial burden on the Federal Government and threaten funding for workers’ salaries, education, healthcare, pensions and infrastructure.

He argued that the removal of fuel subsidy by President Bola Ahmed Tinubu’s administration had eased pressure on public finances, allowing governments at different levels to meet salary obligations more consistently and execute development projects.

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Kwankwaso, who is also the Director of Finance at the Hadejia Jama’are River Basin Development Authority, urged Nigerians to consider the financial implications of restoring the subsidy before supporting the policy.

“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 lead to 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 go beyond political arguments to address how the government would finance the policy without recreating the fiscal challenges associated with the previous arrangement.

Kwankwaso further maintained that savings from subsidy removal had helped state governments across the federation pay workers’ salaries more consistently while pursuing infrastructure development.

He cited 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.

The APC chieftain urged Nigerians to scrutinise Atiku’s proposal to restore fuel subsidy and 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.