By Paul Joseph
The African Democratic Congress (ADC) has declared that Nigerians are too poor to be denied government intervention that could make petrol more affordable, as it fired back at the Presidency over its rejection of Alhaji Atiku Abubakar’s proposal to reduce fuel prices to about ₦600 per litre.
The party argued that millions of Nigerians were already paying heavily for expensive petrol through rising transportation fares, food prices, manufacturing costs and the increasing cost of living.
In a statement issued by its National Publicity Secretary, Bolaji Abdullahi, the ADC dismissed the Presidency’s claim that Atiku’s proposal could cost the country about ₦19.1 trillion.
Abdullahi said the government appeared to have based its criticism on what the party described as a hypothetical subsidy calculation of $40 per barrel.
According to him, the ADC could not understand how the figure was arrived at and maintained that Atiku’s proposal had been wrongly presented as a return to the previous petrol subsidy regime.
The party explained that the plan was designed as a controlled production incentive for local refineries, with clear spending limits and a monitoring framework that would track crude oil supplied to refineries through to finished petroleum products.
The ADC maintained that the proposal was intended to support domestic refining, increase local production and ultimately reduce the price Nigerians pay for petrol.
It also challenged the Federal Government to provide greater clarity on existing petroleum-related expenditures, referring to figures contained in NNPC’s audited 2024 accounts and other reported exposures estimated at about ₦17.5 trillion.
The party, however, noted that such figures should not automatically be classified as conventional petrol subsidies.
The ADC further questioned the government’s position on production incentives, pointing to fiscal incentives available to offshore oil producers.
It argued that if the government could provide incentives to encourage offshore oil production, similar carefully monitored support for domestic refineries should not be dismissed simply because its objective was to lower fuel prices for Nigerians.
The party also faulted the ₦19.1 trillion estimate attributed to the Presidency, arguing that the calculation failed to take into account possible foreign exchange savings and other economic benefits associated with increased domestic refining.
According to the ADC, greater local refining capacity could reduce dependence on imported petroleum products, lower production and transportation costs, conserve foreign exchange and potentially create opportunities for refined petroleum exports.
The party added that the government had failed to adequately consider the economic consequences of maintaining high petrol prices.
“Doing nothing is not free. It is ultimately more expensive,” the ADC said.
Turning the government’s question about funding the proposal back on the Presidency, Abdullahi said the more important issue was how Nigeria’s existing resources were being deployed and whether they were delivering sufficient value to citizens.
The ADC insisted that government intervention was not unusual, arguing that the real question was what the government chooses to subsidise and who ultimately benefits from such interventions.
It maintained that Atiku’s proposal was a limited, audited and traceable production-support mechanism rather than a return to the controversial subsidy system of the past.
According to the party, the proposal is aimed at making petrol more affordable for Nigerians while encouraging investment, expanding domestic refining capacity and reducing the country’s dependence on imported petroleum products.
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