IMPI Asks Atiku, Obi to Clarify Fuel Subsidy Restoration Plans

The Independent Media and Policy Initiative (IMPI) has called on the presidential candidates of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, and the Nigeria Democratic Congress (NDC), Mr Peter Obi, to provide further details on their proposed approaches to fuel subsidy restoration.

In a policy statement signed by its Chairman, Dr Omoniyi Akinsiju, the group said the candidates should explain how their proposals would be implemented and funded, while addressing potential implications for government revenue, crude oil supply, fuel pricing and cross-border smuggling.

IMPI raised questions about how a proposed production subsidy or crude oil discount would affect the commercial interests of international oil companies and private crude producers, as well as the revenue available for distribution to federal, state and local governments through the Federation Account Allocation Committee (FAAC).

The group also sought clarification on measures to prevent the diversion of subsidised crude oil or refined petroleum products to neighbouring countries, where price differences could create incentives for cross-border trading.

It further asked how the proposed arrangements would align with the Petroleum Industry Act (PIA) 2021 and whether the associated costs would be transparently reflected in the national budget.

According to Akinsiju, Nigerians need clear explanations of the funding mechanisms, implementation framework and potential fiscal implications of any proposed return to fuel subsidy.

He urged both candidates to present detailed, evidence-based plans outlining how their proposals would support consumers while safeguarding public revenue and maintaining stability in the petroleum sector.

The group maintained that a public discussion of the proposals would help voters better understand the policy options being presented ahead of the 2027 general elections.