The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has accused President Bola Tinubu of using a N66-per-litre petrol discount to gain political support.
He questioned the cost of the measure and who authorised the Nigerian National Petroleum Company (NNPC) Limited to fund it.
Atiku said the discount raised concerns about whether the government was genuinely trying to ease the burden on Nigerians or using the national oil company to win public approval without explaining the financial implications.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku questioned whether NNPC’s board had approved the arrangement before it was announced by the Presidency.
“Tinubu wants Nigerians to cheer for N66 off a litre before they ask who ordered NNPC to surrender the money,” he said, demanding details of the approval, the cost and how the arrangement would be recorded in the company’s accounts.
The former vice-president argued that NNPC Limited, which operates as a commercial company under the Petroleum Industry Act (PIA), should not be used to fund presidential publicity without proper accountability.
He challenged the government to explain whether the discount followed the company’s corporate procedures, what financial assessment informed the decision and how the revenue forgone through the discount would be reflected in its accounts.
“The discount’s reach is also questionable, given that NNPC Retail operates just over 900 filling stations for a population of about 242 million Nigerians,” Atiku said.
He argued that motorists might spend additional money travelling to participating stations, wait in queues and use an app to access the discount, thereby reducing the actual savings they would enjoy.
He further accused Tinubu’s administration of applying market principles inconsistently.
“Tinubu’s government invokes market forces when Nigerians demand lower petrol prices, yet turns to discounts when the President wants public applause,” Atiku said.
Atiku also rejected the argument that the arrangement was not a subsidy, insisting that changing its description did not eliminate the financial cost.
Referring to their previous disagreement over fuel affordability, the former vice-president said Tinubu had adopted the idea of targeted relief but failed to make it accessible to Nigerians across the country.
Atiku recalled that Tinubu had previously criticised his proposal for a transparent production subsidy but argued that the President had now adopted the idea of targeted relief through a 30-day discount available at only a limited number of filling stations.
‘Tinubu wants Nigerians to cheer for N66 off a litre’ – Atiku