Former Vice-President Atiku Abubakar has proposed a production-based subsidy for petroleum products refined within Nigeria as part of measures to reduce fuel prices and ease economic pressure on citizens.

Atiku, who is the presidential candidate of the African Democratic Congress (ADC), announced the proposal during a news conference in Abuja on Friday.

He said the policy would apply only to petroleum products refined locally and sold to Nigerian consumers, while imported petroleum products would not qualify.

Subsidy Would Target Domestic Refining

According to Atiku, the proposed scheme would focus on supporting local refiners by reducing production costs rather than subsidising imported fuel.

He said the programme would operate within a defined financial limit approved by the National Assembly and would be subject to independent audits to ensure accountability.

Atiku said the approach would encourage local refiners, create employment opportunities and reduce the pressure of rising living costs.

“Government Support Must Reduce Prices”

Explaining his proposal, Atiku compared the idea to government support for local agricultural processors.

He said reducing production costs for Nigerian businesses could allow consumers to enjoy lower prices while encouraging growth across the supply chain.

“Government support must bring prices down. Only products confirmed to be refined in Nigeria will qualify. Imported products will not,” he said.

Call for Immediate Relief Measures

Atiku urged President Bola Tinubu to consider measures aimed at reducing economic hardship facing Nigerians.

He said the removal of petrol subsidy had contributed to higher transportation costs, increased food prices, rising production expenses and greater financial pressure on households and businesses.

According to him, government policies should focus on reducing the underlying cost of energy rather than relying mainly on temporary relief measures.

Focus Should Be on Production, Atiku Says

The former vice-president argued that sustainable economic intervention should strengthen domestic production capacity.

He said supporting local refineries could help Nigeria reduce dependence on imported petroleum products while improving economic activity.

Atiku encouraged the Federal Government to adopt policies that could lower costs for citizens regardless of who introduced the proposals.

“If responsible intervention can lower prices, intervene. If changing course can help Nigerian families, change course,” he said.