African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has sought to strengthen his argument for restoring a form of fuel subsidy in Nigeria, claiming that United States President Donald Trump supports the idea of government backing for strategic energy production.
Atiku who spoke in a statement issued on Sunday by his spokesman, Phrank Shaibu, said his proposed production subsidy would be targeted at petroleum products produced and refined locally.
The Former Vice President argued that the policy would help reduce fuel prices, boost domestic refining and ease the financial pressure on Nigerian households.
He maintained that government intervention in strategic sectors should not automatically be dismissed as poor economic policy.
According to him, supporting local production would increase supply, encourage investment in Nigeria’s refining capacity and ultimately ensure that consumers benefit from lower prices at the pump.
Atiku Abubakar also cited the position of the Crude Oil Refiners Association of Nigeria (CORAN), which he said had called for greater government support for domestic production. He drew a comparison with the United States, arguing that strategic energy production could receive government backing without undermining broader economic objectives.
The ADC presidential candidate further criticised President Bola Tinubu’s administration over the removal of fuel subsidy, saying the policy had placed a heavy burden on ordinary Nigerians.
He questioned why government incentives and concessions go to businesses and multinational oil companies should be acceptable while similar intervention aimed at reducing the cost of fuel for citizens is criticised.