Fuel subsidy: Tinubu, Atiku battle
***Subsidy restoration, demonstrates ignorance on governance, economy —Tinubu ***Atiku unveils new subsidy model, to ‘target, cap, budget, track every barrel’ By Johnbosco Agbakwuru & Omeiza Ajayi ABUJA — President Bola Tinubu, and former Vice President and presidential candidate of the African Democratic Congress, ADC, Atiku Abubakar, yesterday, disagreed over the return of fuel subsidy.
While Tinubu said Atiku was demonstrating ignorance about governance and the economy in his call, Atiku who unveiled a new petroleum subsidy model, proposed to replace Nigeria’s old import-subsidy system with a targeted, capped and independently audited production subsidy for domestic refineries.
The Presidency in a statement by Special Adviser to the President on Information and Strategy, Bayo Onanuga, said: “Against expectations that he would announce a more creative and ingenious alternative to the programme being executed by the Tinubu administration, Atiku Abubakar behaved like a man from an archaic past who least comprehends the present economic dynamics and suggested that he would restore the much-abused, wasteful, pillaged, corruption-ridden fuel subsidy regime, which the Petroleum Industry Act made illegal from the end of June, 2023.
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