Presidency Clarifies Petrol Discount as Temporary Measure Amid Subsidy Debate

The Presidency stated that NNPC Retail’s 30-day petrol discount constitutes a temporary price-modulation measure under the Federal Government’s framework, not a revival of the abolished fuel subsidy. This position follows Sunday Dare’s assertion in response to Atiku Abubakar’s criticism of the discount and the price-modulation system.

Presidency rejected Atiku Abubakar’s proposed production subsidy, warning it might rekindle fiscal leakages and abuses from Nigeria’s previous subsidy regime.

Atiku Abubakar characterized the intervention as a 'panic-driven gimmick', claiming President Bola Tinubu had incorporated parts of his economic proposals while omitting the critical targeted production subsidy component.

Atiku argued that Nigeria’s crude oil production realities, including contractual obligations that limit crude volume available to the Federal Government, were ignored by his proposal. The current production level is approximately 1.8 million barrels per day for a population of 200 million.