The Presidency has claimed that former Vice-President Atiku Abubakar’s proposal to restore petrol subsidy if elected president in 2027 could cost Nigeria about N19.1 trillion annually.
Otega Ogra, Senior Special Assistant to President Bola Tinubu on Digital and New Media, made the claim while appearing on a TVC News programme on Tuesday.
Ogra was responding to Atiku’s renewed proposal to restore petrol subsidy, which has become a major point of debate ahead of the 2027 presidential election. Atiku, the presidential candidate of the African Democratic Congress (ADC), has said he would restore the subsidy if elected.
According to Ogra, the N19.1 trillion estimate was based on an assumed crude oil price of $80 per barrel, with the government subsidising about $40 per barrel.
He said the projected cost would amount to approximately N52.3 billion daily and N1.5 trillion monthly, although the calculation is the Presidency’s estimate rather than an independently established cost of Atiku’s proposal.
Ogra also criticised Atiku for not providing what he described as sufficient details on the proposed subsidy programme, including its estimated cost, spending limit and the volume of crude oil that would be required to sustain it.
The presidential aide questioned how an Atiku administration would finance the policy, arguing that restoring subsidy could place significant pressure on government finances.
The comments follow Atiku’s recent decision to campaign on the restoration of petrol subsidy, a position that has attracted criticism from the Tinubu administration and other political opponents.
The former vice-president’s proposal represents a renewed debate over a policy that was formally dismantled after President Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023. The government has defended the decision as necessary to reduce fiscal pressure and redirect public resources to other areas.
The Federal Government has also claimed that the removal of petrol subsidy generated N15.8 trillion in savings for the Federation between June 2023 and December 2025. Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said the Federal Government received N5.4 trillion of the amount, while N10.4 trillion was distributed to states and local governments through the Federation Account.
Atiku, however, has maintained that restoring the subsidy would help reduce the economic burden on Nigerians by lowering petrol prices and, consequently, transportation and production costs.
The renewed controversy over petrol subsidy is expected to remain a significant issue in the 2027 election campaign, with the competing positions reflecting broader disagreements over how Nigeria should balance affordable fuel prices with fiscal sustainability.
