Atiku: Petrol Marketers Expose Weakness In Tinubu’s Subsidy Argument

Former Vice President Atiku Abubakar has said recent comments by petrol marketers have exposed what he described as a weakness in President Bola Tinubu’s argument for removing petrol subsidy.

Atiku made the comment while reacting to calls by the Independent Petroleum Marketers Association of Nigeria for government intervention to reduce the rising price of petrol.

IPMAN President, Abubakar Maigandi, had called on the Federal Government to work with local refiners, including the Dangote Refinery, to bring down petrol prices and reduce the pressure on Nigerians.

The call came amid rising petrol prices, with some filling stations selling the product for between ₦1,310 and ₦1,350 per litre.

Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, said petrol marketers understand the effect of high fuel prices because they are directly involved in buying, distributing and selling the product.

He argued that government support for domestic refining should not automatically be described as a return to the old petrol subsidy system.

According to him, supporting local refineries could help increase domestic production, reduce dependence on imported petrol and ultimately make the product cheaper for Nigerians.

The former Vice President said the current situation had strengthened his position that the government should reconsider its approach to petrol pricing.

He maintained that there was a difference between supporting local production and the former system in which government funds were used to subsidise imported petrol.

Atiku has consistently criticised the removal of petrol subsidy by the Tinubu administration and has argued that Nigerians should not be made to bear the full burden of rising fuel prices.

The Tinubu administration, however, has maintained that removing the subsidy was necessary to reduce government spending and reform the economy.

The latest development comes as high petrol prices continue to affect households, transport operators and businesses across the country, while marketers warn that expensive fuel is also weakening consumer demand.

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