ADC proposes subsidizing crude oil production to cut petrol prices if elected in 2027
ADC says it will subsidize domestic crude oil production to lower petrol prices if it wins the 2027 presidential election, arguing Nigerians are too poor to bear full market-driven fuel costs. National Publicity Secretary Bolaji Abdullahi told Channels Television earlier this week the party would make crude available to local refineries at reduced costs, differing from past consumption subsidies.
He criticized President Tinubu's administration for removing fuel subsidies without preparing citizens for economic hardship, calling government responsible for protecting people like in wartime. Abdullahi also questioned spending priorities, citing the Lagos-Calabar Coastal Highway as unnecessary amid widespread poverty, and said Nigeria can't be compared to the US without considering differences in public services like education and transport.
The ADC spokesperson criticized Finance Minister Taiwo Oyedele's economic approach, insisting Nigeria needs a formally trained economist rather than an accountant to manage the economy. This comes amid debate over NNPCL's 30-day petrol discount, which the government says isn't a subsidy return since NNPCL bears the cost. Abdullahi predicted the 2027 election will pit APC against Nigerians dissatisfied with economic policies, stating "2027 is going to be between the people and the APC."