File: Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar.
Spokesperson for former Vice-President Atiku Abubakar, Paul Ibe, has said his principal would restore petrol subsidy if elected president in 2027 but would gradually phase out the intervention after the economy recovers.
Ibe, who spoke on AIT on Tuesday, said the proposed subsidy would differ from the former subsidy regime, as government support would be tied to crude oil production and domestic refining.
He said the policy would provide temporary relief to Nigerians and businesses, stimulate economic activity and improve productivity.
“What he’s simply saying is that the subsidy that he is advocating will be tied to the barrel, the crude oil barrel. This is perhaps the only thing that we have in so much abundance that Nigerians have not yet benefited from,” Ibe said.
