Atiku Accuses Tinubu of Favouring Friends, Oil Majors With Subsidy Policy

Former Vice President and African Democratic Congress (ADC) presidential candidate Atiku Abubakar has criticised President Bola Tinubu’s economic policies, arguing that targeted support for domestic production could help ease the rising cost of living.

Atiku, speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, on Sunday, said government economic figures must translate into tangible improvements for Nigerians, particularly through lower fuel, food and transportation costs.

He said ending the petrol subsidy had placed additional strain on families and enterprises, as rising fuel, transport and operational costs continued to erode their spending power.

Atiku also cited the Crude Oil Refinery Owners Association of Nigeria (CORAN), which has advocated support for domestic refining, as well as recent energy measures in the United States under President Donald Trump. According to him, both examples demonstrate how strategic government intervention can strengthen local production.

“Tinubu’s policies removed the fuel subsidy, and since then Nigerians have experienced higher costs for fuel, transport and food,” Atiku said. He said the proposed production support should be considered as a measure to ease the financial burden on consumers.

The former vice president pointed to rising prices of fertiliser, petrol, cement and foreign exchange as evidence of the difficulties confronting households and enterprises. He accused the administration of worsening economic hardship while asking citizens to focus on improving headline indicators.

Atiku further claimed that some major Nigerian companies are experiencing difficulties collecting customer payments because consumers have lost purchasing power. He illustrated the situation with the example of a frozen-food seller in Kubwa, Abuja, whose transportation, electricity and restocking expenses have increased while customers purchase less.

He questioned why government incentives, waivers and concessions available to major corporations could not similarly support Nigerian refiners and producers.

“What Nigerians need now is not just statistics, but relief in their daily expenses. We must support production, refine more in Nigeria, create jobs, and lower the cost of living,” he said.

Atiku argued that expanding domestic refining would reduce dependence on imported petroleum products while supporting employment and economic activity. He maintained that increased local production could ultimately help ease costs across several sectors.

The ADC presidential candidate said the country must choose between policies that deepen financial hardship and reforms that can improve household purchasing power.

He urged Nigerians to demand an economic framework focused on affordability, domestic production, employment and stronger household incomes, insisting that economic recovery should be reflected in the everyday experiences of citizens.