Group warns Atiku’s subsidy plan could take Nigeria 20 years backward - The Guardian Nigeria News

The Tinubu Support Group (TSG) has warned that any attempt to reverse the Federal Government’s fuel subsidy reform could set Nigeria back by 20 years.

The group accused former Vice President Atiku Abubakar of playing politics with the issue ahead of the 2027 general elections.

The organisation urged Nigerians to scrutinise political promises on fuel subsidy, saying a return to the regime could place renewed pressure on government finances and undermine ongoing economic reforms.

TSG Director-General, Dr Umar Tanko Yakasai, in a statement, said Atiku’s position on subsidy could create uncertainty among investors and reverse some of the gains recorded since the removal of the subsidy.

Yakasai said Nigeria had already gone through the difficult phase of the reform and could not afford to return to a system that placed a heavy financial burden on government.

He argued that the Federal Government no longer had the resources to sustain the subsidy regime, warning that any attempt to restore it could further strain the country’s finances.

According to him, the subsidy debate should not be reduced to an electoral promise given its implications for Nigeria’s fiscal position and long-term economic stability.

Yakasai also criticised what he described as repeated clarifications by Atiku’s media team following the former vice president’s comments, saying the varying explanations had raised questions about his actual position on the policy.

He said some of the statements from Atiku’s camp appeared to suggest that the former vice president might not intend to reverse the subsidy reform in the manner initially understood by Nigerians.

The TSG director-general also questioned Atiku’s position on fuel subsidy since 1999, when he served as vice president and chairman of the National Economic Council under the Olusegun Obasanjo administration, through his 2023 presidential campaign.

He recalled that Atiku had during the 2023 campaign said he would remove fuel subsidy and sell Nigeria’s four refineries.

Yakasai asked: “The question Nigerians should ask is, when did Atiku change his longstanding position on fuel subsidy removal, which he has held for over two decades, and what has changed to warrant the sudden reversal of policy on subsidy?

“Is it a populist move to play to the gallery and deceive Nigerians in order to get votes through false promises?”

He cautioned opposition politicians against making promises that could raise unrealistic expectations among Nigerians or unsettle investors.

Yakasai urged Nigerians to be wary of what he described as false promises by politicians seeking to win elections without genuine intentions to implement the policies they campaign on.

He said Nigeria had begun to emerge from economic difficulties associated with decades of dependence on fuel subsidy, adding that reversing the policy could undermine efforts to rebuild the economy.

The TSG urged Nigerians to scrutinise political promises ahead of the 2027 elections, particularly those relating to fuel prices and subsidies, and consider their implications for the country’s financial sustainability.

Yakasai also cited recent economic indicators which, according to him, showed that Nigeria was beginning to move in the right direction.

He noted that the economy grew by 4.43 per cent in the second quarter of 2026, compared with 3.89 per cent in the first quarter, while crude oil production had increased to about 1.72 million barrels per day.

He said such developments should be consolidated rather than disrupted by promises to reverse existing reforms.

Yakasai cited a recent assessment by the International Energy Agency that Nigeria could double energy investment within five years, saying the prospect underscored the importance of policy consistency.

According to him, at a time when Nigeria is seeking to attract more capital into its oil, gas and renewable energy sectors, political statements capable of creating uncertainty could undermine investor confidence and ultimately hurt the economy.