ADC's Amaechi outlines Atiku's plan for petroleum law changes to enable local fuel subsidy
ADC vice-presidential candidate Rotimi Amaechi announced on Channels Television's Politics Today (Friday, Oct 2, 2026) that an Atiku Abubakar administration would seek to amend Nigeria's petroleum law to introduce a production subsidy for locally refined fuel if existing legislation blocks it. He illustrated the mechanism with hypothetical figures: selling crude to domestic refiners like Dangote Refinery at N10,000 per unit when internationally valued at N15,000, treating the N5,000 difference as subsidy.
This approach aims to boost domestic refining—extending to modular refineries nationwide—to lower fuel and transportation costs while creating Nigerian jobs in refinery operations, contrasting with the previous petrol subsidy that supported imported fuel and foreign employment. Amaechi emphasized all changes would follow legal processes, either through repealing or amending the Petroleum Industry Act via the National Assembly.
Regarding timelines, Amaechi challenged Nigerians to judge results within one year: 'Give us one year. If you don't begin to feel the change, I will leave.' He clarified that while subsidy implementation could be swift, expanding domestic refining capacity and its broader economic effects would require time. The proposal directly addresses APC campaign council inquiries about legal, fiscal and operational feasibility, though Amaechi omitted specifics on discount rates, eligible crude volumes, annual program costs, or mechanisms ensuring refiners pass savings to consumers.