The APC Presidential Campaign Council has challenged former Vice President Atiku Abubakar to explain the legal and fiscal framework for his proposed “production subsidy” on locally refined petrol.
In a statement signed by its spokesman, Dele Alake, on September 20, the council questioned how the intervention would operate under the Petroleum Industry Act (PIA) 2021, which provides for market-based pricing.
It asked Atiku to clarify whether refiners receiving support would be required to sell at a prescribed price and the legal basis for such a condition.
The council also questioned the cost, estimating it could reach between N17 trillion and N21 trillion annually depending on discount and volume, and whether a discount on crude to domestic refineries would reduce Federation revenue.
Alake urged Atiku to disclose the subsidy rate, annual spending limit, volume covered, funding source, mechanism to ensure lower pump prices and safeguards against diversion and smuggling, and whether PIA amendments would be needed.
The council also challenged Atiku’s stance, citing his 2022 description of petrol subsidy as fraudulent and his August 25, 2026 statement, “I will restore it,” asking how his plan differs from the former regime.
It defended the Tinubu administration’s CNG and electric transport drive, saying over 120,000 vehicles have been converted to CNG with lower fares on some routes.
The council urged Atiku to publish a detailed, independently costed policy document.
