Amaechi details Atiku's refinery-focused fuel subsidy plan for Nigeria's 2027 election

Rotimi Amaechi, presidential running mate for the African Democratic Congress (ADC), stated on October 9, 2026 that Atiku Abubakar's proposed fuel subsidy restoration for the 2027 election would be production-based and not enrich wealthy Nigerians. Speaking at a town hall meeting in Edo State, Amaechi explained the subsidy would target only owners of Nigerian refineries and modular refineries.

According to Amaechi, Atiku would implement a domestic pricing policy where the Nigerian government sells crude oil at a higher price on the international market but charges less domestically to refineries. For example, if crude sells for N15,000 internationally, it would be sold to Dangote at N10,000 domestically, with the N5,000 difference serving as the subsidy paid by the refinery owner. Amaechi emphasized: "If you don’t have a refinery in Nigeria, you will not get subsidy. We don’t have to pay for it; the government will not pay for the subsidy."

This proposal shifts fuel subsidy from direct consumer payments to refinery incentives, potentially lowering pump prices if refineries pass on savings. The policy hinges on refinery ownership, excluding most Nigerians from direct benefit. Will this production-based approach actually reduce fuel costs for everyday Nigerians, or will refineries retain the subsidy difference as profit?

SOURCE: https://dailypost.ng/2026/10/09/2027-atikull-not-restore-subsidy-to-produce-rich-men-amaechi/