Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has urged the Federal Government to take urgent steps to ease the rising cost of living, saying Nigerians are struggling with expensive transport, food and other basic necessities.
Atiku, speaking on Friday through Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, said President Bola Tinubu’s Independence Day address did not sufficiently reflect the economic pressures facing ordinary Nigerians.
According to him, high petrol prices continue to drive up transport fares and the cost of food and other essentials, with the impact felt from filling stations to markets and households.
Atiku cites Germany fuel tax cuts
Atiku pointed to Germany’s decision to cut gasoline and diesel taxes by €0.17 per litre between October and December at an estimated cost of €2.5 billion.
He said the measure had begun putting downward pressure on pump prices and argued that Nigeria could adopt targeted support to cushion consumers from high fuel costs.
“Germany understands that when fuel prices put families under pressure, government must act. Nigerians deserve same compassion and urgency,” he said.
Proposed fuel support for local refining
Atiku proposed targeted and budgeted support for fuel refined in Nigeria, backed by strict auditing to ensure the benefit translates into lower pump prices.
“Our plan is to restore targeted, budgeted support for fuel refined in Nigeria, with strict auditing and a guarantee that the benefit lowers pump prices. Support will follow barrel refined here, creating jobs here and easing costs for Nigerians.”
He said the proposed support would be funded by cutting government waste and protected against diversion and price manipulation.
According to Atiku, the policy would apply only to fuel refined in Nigeria and not imported petroleum products.
He added that lower fuel prices could translate into cheaper transport fares, more affordable goods and greater disposable income for Nigerian families.
