Ralph Nwosu, a chieftain and former national chairman of the African Democratic Congress (ADC), announced on Thursday that presidential candidate Atiku Abubakar will sign a formal contract with the Nigerian public specifying the exact price of petrol under his proposed administration. Speaking on Arise Television's *Daybreak* programme, Nwosu stated that the campaign plans to move beyond generalized promises by offering concrete commitments and a fully structured policy roadmap ahead of the 2027 presidential election.
According to Nwosu, the proposed agreement will outline the cost of fuel effective May 29, 2027, along with early policy trajectories. The ADC campaign is currently formulating a first 100-day program to establish accountable actions rather than broad statements.
This development aligns with Atiku’s pledged return to fuel subsidies, a stance he reiterated following critiques of the current economic hardship triggered by President Bola Tinubu's subsidy removal. Atiku questioned the transparency of the savings generated by the policy, asserting that if elected, he would reinstate targeted subsidies and demand accountability for mismanaged funds.
The campaign clarified that the proposed intervention will not reinstate the traditional import subsidy framework. Instead, the administration plans to provide crude oil to domestic refiners at preferential rates to suppress local production costs. Former Transportation Minister and ADC vice-presidential candidate Rotimi Amaechi emphasized that the strategy focuses strictly on subsidizing local refinery capacity to lower pump prices for consumers.
The Presidency has rejected the proposal, raising concerns over funding sources, implementation costs, and the ultimate timeline for ending the intervention while maintaining that the former subsidy regime remains fully terminated.
Key Stakeholder Positions on Proposed Petrol Subsidy Policy
Ralph Nwosu (ADC Chieftain):Confirms Atiku will sign a binding agreement detailing precise fuel costs by May 29, 2027, alongside a clear 100-day execution blueprint.
Atiku Abubakar (ADC Presidential Candidate): Promises to restore subsidies via targeted measures, questioning the utilization of current subsidy savings under the present administration.
Rotimi Amaechi (ADC Vice-Presidential Candidate):Outlines a production-centric approach, offering cheap crude to local refiners to reduce retail petrol costs rather than subsidizing imports.
Phrank Shaibu (Senior Special Assistant to Atiku): Explains that policy implementation relies on preferential crude pricing for domestic refining operations.
The Presidency: Defends the complete removal of subsidies, citing fiscal sustainability and raising concerns over the costs and feasibility of Atiku's proposal.
