Political analyst Abbati Bako says former Vice-President Atiku Abubakar’s reported pledge to restore petrol subsidies if elected president could intensify scrutiny of President Bola Tinubu’s economic policies ahead of the 2027 general election.
In a Facebook post on Friday, Bako said the proposal could make petrol prices, the use of savings from subsidy removal and the impact of economic reforms on Nigerians major issues in the 2027 political debate.
Atiku reportedly questioned how the savings from subsidy removal had been spent.
“I did not oppose the removal of the subsidy. But where is the money? Where did it go?” Atiku was quoted as saying.
Bako argued that the position could put pressure on the Federal Government to provide a clearer account of the savings and demonstrate how Nigerians had benefited from the reforms.
He said petrol prices could become a major campaign issue because of their impact on transport operators, farmers, traders and households.
“Suddenly, 2027 election now has alternative, and in democracy, alternative is power,” Bako wrote.
According to him, voters would assess competing economic proposals based on their effects on transport costs, food prices, household incomes and businesses.
However, Bako noted that restoring petrol subsidies would raise questions about funding, affordability and transparency, including whether the policy could be sustained without increased borrowing or additional pressure on public finances.
The Federal Government has defended subsidy removal as necessary to ease pressure on public finances and free up resources for other priorities.
Bako also questioned the outcomes of the administration’s foreign exchange reforms, arguing that employment, infrastructure, healthcare, education and living standards would be important measures for assessing the government’s economic performance.
He called for greater accountability in public spending, citing rising living costs and concerns over government expenditure, including lawmakers’ vehicles, Hajj subsidies and a proposed presidential yacht. The specific figures and claims surrounding these expenditures would need to be verified against official records.
The analyst further argued that Atiku’s reported position could generate debate among opposition figures, including Peter Obi and Rabiu Kwankwaso, although their respective positions on restoring petrol subsidies would need to be established independently.
Bako suggested that fuel prices could become a defining issue in the 2027 election, alongside inflation, employment, public spending and economic growth.
“Election 2027 will not be about APC vs ADC. It will be about N1,500 fuel vs N400 fuel,” he wrote.
The figures cited by Bako represent his political argument rather than verified forecasts of future petrol prices. Actual prices would depend on factors including crude oil prices, exchange rates, refining costs and government policy.
At the heart of the debate is whether competing economic proposals can deliver affordable energy and improve living standards while maintaining fiscal sustainability and transparency.
Atiku’s subsidy pledge challenging Tinubu’s economic reforms ahead of 2027 election – Bako