Senator Shehu Sani has described African Democratic Congress, ADC, presidential candidate Atiku Abubakar’s promise to restore fuel subsidy as a “political Trojan horse” aimed at securing votes ahead of the 2027 presidential election.
Sani said the pledge was impracticable and accused Atiku of attempting to deceive Nigerians, noting that the former vice president had previously supported the removal of fuel subsidy and advocated economic policies associated with the World Bank and International Monetary Fund, IMF.
Speaking with newsmen in Abuja, Sani said Atiku’s position represented a reversal of his long-standing stance on fuel subsidy. “What he is saying is outright deception of Nigerians,” he said.
The former lawmaker said Atiku had, throughout his political career and previous campaigns, supported the removal of subsidy.
“As someone who has always subscribed to Bretton Woods institutions’ neoliberal economic policies, someone who believes in World Bank and IMF prescriptions, devaluation of currency, privatization of public enterprises and all sorts of capitalist bourgeoisie economic policies, and someone who has, throughout his political history and campaigns, stood for the removal of subsidy, for someone now to make a reversal simply because he needs votes, there is a need for Nigerians to seriously not take what he has said at face value,” Sani said.
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He argued that restoring the subsidy would be difficult, given the trillions of naira Nigeria previously spent on subsidizing petroleum products.
Sani also criticized the subsidy regime, alleging that some beneficiaries exploited it to defraud the country, with several facing court cases over alleged diversion of public funds.
“We have also seen how beneficiaries of subsidies use this mantra of subsidy to defraud our country. Many of them have cases in court where hundreds of billions of naira were looted and diverted from the national treasury in the name of importing petroleum products under the subsidy regime,” he said.
However, Sani acknowledged the economic hardship caused by the removal of the subsidy, saying the policy had worsened the relationship between ordinary Nigerians and the current administration.
“I know very well that the removal of subsidy is causing a lot of hardship and economic suffering in the lives of our people, and it has been one policy that has created bad blood between ordinary Nigerians and this administration,” he said.
KAKAKI OKEOGUN
