Onanuga to Atiku: Explain Your ‘Targeted Subsidy’ Plan to Nigerians

Presidential Special Adviser on Information and Strategy, Bayo Onanuga, has challenged former Vice-President and Presidential candidate of the action democratic party (ADC) in the 2027 poll Atiku Abubakar to explain in clear terms how his proposed “targeted subsidy” on petrol would work if he becomes president.
Onanuga made the demand in a statement on Wednesday while reacting to Atiku’s renewed position that he would restore targeted petrol subsidy if elected in 2027.

Addressing the former vice-president, Onanuga asked him to explain the cost of the proposed policy, who would benefit from it, how beneficiaries would be identified and how the programme would be funded.
“We therefore urge Atiku to stop shifting positions and explain precisely what he means by ‘targeted subsidy’: how much will it cost, who will benefit, how will beneficiaries be identified, how will it be funded, and what objective economic conditions will determine its eventual termination?” Onanuga said.
The presidential aide also questioned the economic basis of Atiku’s proposal, arguing that the price of petrol is influenced by several factors, including international crude oil prices, exchange rates, refining costs, transportation and distribution expenses.
Onanuga further challenged Atiku’s argument that petrol subsidy should follow the price of crude oil, pointing out that petrol represents only part of the products obtained from a barrel of crude.
He asked whether Atiku would also subsidise other petroleum products such as diesel and kerosene, which are widely used by households, businesses and industries.
“Will Atiku subsidise all these by-products of the barrel as well, since kerosene is used by the underprivileged to cook, and many homes and factories use diesel to power generators and delivery trucks?”
Onanuga also questioned whether refineries supplied with discounted crude would be allowed to profit from the other products derived from the same barrel while government focuses its subsidy specifically on petrol.
He accused Atiku of failing to fully understand the implications of his proposed policy, describing the former vice-president’s position as a “newfound policy prescription.”