Subsidy removal: Atiku is a hypocrite, renegade – Presidency
It 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.
The Presidency rejected Atiku’s claim of a N30 trillion windfall, calling it imaginary, and stressed that the Petroleum Industry Act (PIA) dismantled the subsidy framework and scheduled its removal by June 2023.
It called on Atiku and other political actors to provide full fiscal arithmetic and legal detail for any subsidy proposal: the annual cost, funding source, whether borrowing would be required, and how PIA and petroleum regulations would be amended and safeguarded against abuse.
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