One day after launching his 2027 campaign, the presidential candidate of the ADC, Atiku Abubakar, said he will restore the fuel subsidy if elected as Nigeria's president in the 2027 election.
Atiku stated this during an interview on Wednesday, where he expressed that the federal government has failed to account for how funds accrued from the fuel subsidy removal were utilized.
He added that he was not initially opposed to the removal of the subsidy, but urged the government to disclose where the money went, especially since it was claimed the funds would be used to alleviate poverty and support children's education.
The ADC candidate said that if he emerges victorious in the 2027 election, he will reinstate the fuel subsidy while ensuring that anyone who misused the funds returns them.
He further stated that removing the subsidy might have been understandable if the generated revenue had been directed toward developmental projects, improving security and education, and creating opportunities for the youth.
President Bola Ahmed Tinubu announced the removal of the fuel subsidy in his inauguration address on May 29, 2023.
This move led to a surge in fuel prices, which in turn triggered a high cost of goods and general living across the country. However, some state governors stated that their revenue allocations from the Federation Account Allocation Committee (FAAC) have increased significantly since the subsidy removal.
On Wednesday, the Minister of Finance and Minister Coordinating the Economy, Taiwo Oyedele, said that the fuel subsidy removal generated financial resources amounting to 15.8 trillion Naira for the federation between June 2023 and December 2025. Oyedele added that these funds were generated through increased revenue, particularly resulting from the naira exchange rate adjustments on dollar transactions following exchange rate policy reforms.