Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has called on President Bola Tinubu to immediately intervene to reduce petrol prices and ease the rising cost-of-living burden on Nigerians.
Atiku, who spoke at a world press conference on fuel prices, palliatives and the cost of living, said rising energy and transportation costs were pushing families, businesses and manufacturers to the brink.
He said the government must move beyond explanations and economic statistics and take urgent steps that would put money back in the pockets of Nigerians.
According to him, the ultimate measure of economic reforms should be whether ordinary citizens can afford to live, work and do business.
Atiku said Nigerians had endured the consequences of petrol subsidy removal since May 29, 2023, without adequate protection for families, workers, farmers and businesses during the transition.
He said the burden of high fuel prices had spread across the economy, from petrol stations to transport fares, markets and household expenses.
“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive. 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.”
Atiku said the situation was no longer an abstract economic debate but a daily reality for millions of Nigerians struggling with rising transportation, food, energy and production costs.
He recalled that when he previously called for a review of the government’s approach to petrol subsidy removal and advocated responsible intervention to reduce fuel costs, President Tinubu dismissed his position as demonstrating “serious ignorance” of governance and the economy.
The former vice president asked whether the Nigeria Labour Congress (NLC), petroleum marketers, manufacturers and millions of Nigerians who had raised concerns over rising costs should similarly be regarded as ignorant.
“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen.”
He said the scale of the hardship required humility from the government and a willingness to change course where existing policies were producing unacceptable consequences.
“Leadership requires the humility to confront the consequences of policy and the courage to change course.”
Atiku also criticised the government’s reliance on headline economic indicators, arguing that GDP growth, higher revenues and increased government allocations had little meaning to households whose purchasing power continued to decline.
“Nigerians judge the economy by what their money can buy. If government receives more naira while the citizen’s naira buys less food, less fuel, less electricity and less transportation, then bigger government revenues mean little to the family struggling to survive.”
He said factories were facing rising production costs while unsold goods accumulated in warehouses, creating what he described as a dangerous disconnect between production and purchasing power.
“The goods are there. The need is there. What is missing is the purchasing power.”
Atiku therefore called on President Tinubu to use the remaining period of his administration to provide immediate and measurable relief to Nigerians by reducing fuel costs, supporting domestic refining, easing transportation expenses and strengthening household purchasing power.
He also urged the President not to allow political rivalry to stand in the way of policies that could reduce the burden on Nigerians.
“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 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 stressed that the issue was not who received credit for a policy but whether such a policy delivered tangible relief to Nigerians.
“A sensible idea does not become a bad idea because it came from your opponent.”
He urged the government to focus less on defending its policies and more on delivering results that Nigerians could feel in their homes, businesses and communities.
“Nigeria does not need more arguments about the hardship. Nigerians need action. They need relief. They need an economy that works for them.”
