Former Vice-President Atiku Abubakar has urged President Bola Tinubu to use the remaining eight months of his administration to reduce the cost of petrol and electricity and ease pressure on Nigerian households and businesses.
Atiku, the African Democratic Congress (ADC) presidential candidate, made the call at a press conference in Abuja on Friday, September 18.
He said the removal of petrol subsidy on May 29, 2023, had contributed to increased transportation, food, logistics and energy costs, with the effects ultimately borne by ordinary Nigerians.
“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive,” Atiku said.
“Farmers pay more to move produce. Traders pay more to stock their shops. Workers pay more to get to work. Businesses pay more for logistics and energy.
“In the end, the Nigerian family receives the bill. When government makes energy expensive, it makes life expensive.”
The former vice-president said he had earlier proposed government intervention to bring down petrol prices, but alleged that Tinubu dismissed the suggestion as demonstrating “serious ignorance” of governance and the economy.
He said complaints from the Nigeria Labour Congress, petroleum marketers, manufacturers and households over the rising cost of living should compel the government to reassess its policies.
“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen,” he said.
According to Atiku, effective leadership requires the ability to recognise when government policies are producing harmful consequences and make appropriate adjustments.
“Leadership requires the humility to confront the consequences of policy and the courage to change course,” he said.
He also urged Tinubu to consider policies on their merits rather than reject them because they originated from a political opponent.
“Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol simply because Atiku Abubakar proposed a government intervention,” he said.
“He should just take the idea. Rename it if he wishes. And even take the credit. What matters to me is that, Nigerians pay less.”
Atiku also questioned the continued reliance on palliatives to cushion the effects of rising living costs, arguing that temporary relief could not substitute for policies that address the underlying economic pressures.
“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,” he said.
He acknowledged that emergency assistance could be necessary in difficult circumstances but said it could not provide a lasting solution to the impact of high energy and transportation costs.
“Palliatives manage pain. Good policy addresses the source of the pain,” he said.
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The ADC presidential candidate also raised concerns about the planned phase-out of electricity subsidies from 2027, warning that households and businesses were already struggling with high electricity costs.
He said small businesses and manufacturers were particularly affected, with many spending heavily on electricity, diesel and alternative power sources simply to remain operational.
“The barber needs electricity for his clippers. The tailor needs it for her machines. The frozen-food seller needs it to preserve her stock,” Atiku said.
“The welder needs it for his equipment. The manufacturer needs it to keep the factory alive.”
Drawing a parallel with the petrol subsidy removal, Atiku urged the government to avoid repeating what he described as the same approach in the electricity sector.
“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.
Atiku said his political rivalry with Tinubu should not prevent him from supporting policies that could improve Nigerians’ welfare.
“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 wellbeing of Nigerians should never be,” he said.
He said his broader economic agenda was focused on increasing production, creating jobs, strengthening purchasing power and improving living standards.
“Nigerians do not live on statistics. They live on what their hard-earned money can buy,” he added.