Atiku Abubakar has promised to restore Nigeria’s petrol subsidy if elected president in 2027, arguing that the government has failed to show clearly how money saved since the subsidy was removed has benefited ordinary Nigerians. The Atiku petrol subsidy plan is, however, only a campaign pledge at this stage and does not mean fuel prices or government policy will change immediately.
Atiku, the presidential candidate of the African Democratic Congress (ADC), made the comments during an interview conducted in Hausa, according to TheCable. His intervention comes as debate grows over the impact of President Bola Tinubu’s economic reforms and the government’s claim that subsidy-related reforms generated ₦15.8 trillion in additional resources for the federation between June 2023 and December 2025.
New Daily Prime has previously examined the wider impact of Nigeria’s fuel subsidy removal, including higher transport and living costs as well as increased government revenue.
Atiku questions where subsidy savings went
Atiku said he did not object in principle to ending the subsidy but questioned how the savings had been used.
“If elected, I will bring back the oil subsidy, and whoever stole the money must refund it,” he said.
He argued that money released by the policy should have been directed towards areas such as education, security, poverty reduction, infrastructure and opportunities for young Nigerians.
Atiku also alleged that some of the money may have been stolen. The report did not provide evidence establishing that subsidy savings had been stolen, and his allegation should therefore be treated as a political claim rather than a proven finding.
Questions over how subsidy-related funds are being spent are not new. New Daily Prime previously reported that the Socio-Economic Rights and Accountability Project, SERAP, took legal action against state governors and the Federal Capital Territory minister over alleged failures to account for about ₦14 trillion linked to increased allocations after subsidy removal. SERAP’s court action over subsidy savings
Government says reforms produced ₦15.8tn
The Federal Government has offered a different account. Finance and Coordinating Minister of the Economy Taiwo Oyedele said the removal of the petrol subsidy and related economic reforms mobilised about ₦15.8 trillion in additional resources for the federation between June 2023 and December 2025.
The government says the figure should not be understood as ₦15.8 trillion sitting in a separate bank account marked “subsidy savings”.
According to figures presented by Oyedele, about ₦5.4 trillion went to the Federal Government, while roughly ₦10.4 trillion was distributed to states and local governments through the Federation Account.
The Nigeria Employers’ Consultative Association has since called on state and local governments to explain how their share of the additional resources was spent.
The government also says higher expenditure on wages, debt servicing and infrastructure absorbed a significant share of the additional fiscal resources generated after the reforms.
Tinubu ended subsidy in 2023
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on 29 May 2023, declaring that the previous system would no longer continue.
The policy led to a sharp rise in petrol prices and contributed to higher transport and business costs. Those increases fed into wider cost-of-living pressures affecting households across Nigeria.
Supporters of the reform argue that the old subsidy system was expensive, encouraged smuggling and diverted government resources that could have been spent elsewhere. Critics say the government has not done enough to protect Nigerians from the impact of higher prices or demonstrate clearly how the additional revenues have improved public services.
New Daily Prime has previously reported that the Federal Government ruled out returning to fuel subsidy, saying it preferred market-based pricing rather than government controls.
That position puts the Tinubu administration directly at odds with Atiku’s latest pledge.
What restoring petrol subsidy would mean
A petrol subsidy means the government bears part of the cost of fuel so consumers can buy it below what the market price might otherwise be.
Atiku’s promise does not mean subsidy will automatically return in 2027. He would first have to win the presidential election and then put in place the necessary fiscal and policy arrangements to fund any new subsidy system.
The cost, method of implementation, effect on government revenue and impact on fuel supply would also have to be addressed.
For Nigerians, there is therefore no immediate change to petrol prices as a result of Atiku’s statement. The issue is likely to become part of the wider economic debate ahead of the 2027 presidential election.
Atiku, who resigned from the Peoples Democratic Party in 2025, has since become a central figure in opposition politics ahead of the next presidential contest. New Daily Prime has previously reported on Atiku Abubakar’s departure from the PDP and developments surrounding the ADC and the 2027 presidential race.
The debate will now focus not only on whether a subsidy should return, but also on whether the government can provide enough transparency over the money generated since the previous system ended.
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