Former Vice President Atiku Abubakar’s fuel plan is putting domestic refining into Nigeria’s 2027 campaign debate as September food inflation stood at 19.59% year over year.
Atiku’s party, the African Democratic Congress (ADC), describes the proposal as a production subsidy for domestic refineries, to support locally refined fuel instead of using public funds to subsidize imports. The party says the approach would ease fuel, transport and other costs for households and businesses. Its statement gives no spending estimate or cap.
President Bola Ahmed Tinubu announced the end of the petrol subsidy in his May 29, 2023, inaugural address. The ADC statement does not set out the proposed subsidy’s implementation details or fiscal requirements.
Nigeria’s annual headline inflation rate was 14.63% in September, down from 15.39% in August, the National Bureau of Statistics (NBS) reported. The monthly headline inflation rate was 0.06%, compared with 0.71% in August. Food inflation reached 19.59% year over year.
Tinubu opened the All Progressives Congress’ (APC) 2027 campaign at a Kaduna rally on Saturday, Oct. 24. The State House said he accused opposition leaders of creating the hunger and poverty they cited in criticizing his government. Phrank Shaibu, a spokesperson for Atiku’s campaign, disputed Tinubu’s account in an earlier response covered by EconoTimes.
In an Oct. 28 opinion column, Premium Times columnist Adnan Mukhtar argued that economic hardship and insecurity could hurt Tinubu’s reelection prospects and give Atiku an opening. Mukhtar also claimed northern APC candidates were putting up posters without Tinubu’s image. The column did not name candidates or provide examples of the posters.
The Independent National Electoral Commission (INEC) lists Tinubu as the APC candidate and Atiku as the ADC candidate. Nigeria’s presidential election is scheduled for Jan. 16, 2027.
