By Dapo Akinrefon
LAGOS: The lawmaker representing Agege Federal Constituency, Dr Wale Ahmed, has faulted former Vice President Atiku Abubakar’s proposal to restore petrol subsidy, warning that the policy could derail Nigeria’s economic recovery.
Ahmed, in a statement, described the proposal by the presidential candidate of the African Democratic Congress, ADC, as economically unsustainable and politically expedient.
Atiku had promised to restore petrol subsidy if elected president in 2027, arguing that Nigerians had suffered significantly since President Bola Tinubu removed the subsidy.
But Ahmed said reversing the policy would return Nigeria to an expensive system that drained public resources and created opportunities for abuse.
The lawmaker said: “Nigeria cannot afford to return to the subsidy era. What we need is to consolidate reforms and ensure their benefits reach ordinary Nigerians.”
He said the removal of subsidy had improved government revenues by freeing up resources previously committed to keeping petrol prices artificially low.
“The question should be how these additional resources are deployed to improve infrastructure, healthcare, education, transportation and security, not how we recreate an unsustainable subsidy regime,” he said.
Challenging Atiku to explain how his proposed subsidy arrangement would be funded without worsening Nigeria’s fiscal position, Ahmed said: “Where will the money come from? Will government borrow again to finance subsidy? Will allocations to states and local governments be reduced? Nigerians deserve clear answers.”
The lawmaker said the claim that subsidy savings had disappeared was misleading, noting that the resources accrued to the federation.
He said: “The savings were not money kept in a vault by the Federal Government. They increased revenues available to the federation and were shared among the three tiers of government.
“Nobody is denying the hardship. It is real. But returning to the policies that contributed to our fiscal problems cannot be the solution.”
He urged the Federal Government to accelerate measures to reduce production and transportation costs, including improvements in electricity supply and investment in agriculture.
Expressing confidence in Tinubu’s chances of securing another term in 2027, Ahmed said: “I strongly support President Tinubu for 2027. Nigerians will ultimately choose sustainable economic management over promises that may offer temporary relief but create deeper problems.”
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