Former Vice President Atiku Abubakar has challenged President Bola Tinubu over the rising cost of petrol in Nigeria, comparing the country’s pump price with those of other oil-producing nations.
Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, questioned why Nigerians continue to pay about ₦1,400 per litre for petrol despite the country being a major oil producer.
The statement came in response to recent comments by President Tinubu defending his administration’s economic reforms and arguing that the reforms are beginning to deliver growth that will reach ordinary Nigerians.
Atiku’s camp argued that economic growth should not only be reflected in government figures but should also translate into improved living conditions for Nigerians.
Atiku compares Nigeria with other oil producers
Shaibu cited petrol prices in several oil-producing countries as part of Atiku’s argument.
According to the statement, petrol sells for about ₦778 per litre in Saudi Arabia, ₦872 in Kuwait, ₦475 in Algeria and ₦441 in Angola.
The statement also cited Libya, where petrol was said to sell for about ₦34 per litre, while noting that the United Arab Emirates sells petrol below Nigeria’s reported price of about ₦1,400 per litre.
Atiku’s camp argued that these comparisons raise questions about how Nigeria is using its oil resources to reduce the pressure of energy costs on citizens.
However, the comparison does not necessarily mean the countries have identical fuel pricing systems, as pump prices can be influenced by factors including subsidies, taxes, refining costs, exchange rates and government pricing policies.
Minimum wage and cost of fuel
Atiku’s camp also highlighted the pressure of fuel costs on low-income workers.
It said a Nigerian earning the ₦70,000 statutory minimum wage would need about ₦56,000 to purchase 40 litres of petrol at ₦1,400 per litre.
That would amount to 80 per cent of the worker’s monthly minimum wage, leaving ₦14,000 for other expenses such as food, rent, electricity, healthcare and transportation.
The argument is that the impact of petrol prices goes beyond what Nigerians pay at filling stations because higher energy and transportation costs can also affect the prices of food and other essential goods.
Atiku questions subsidy policy
Atiku’s camp also questioned the benefits Nigerians have received since the removal of the petrol subsidy in 2023.
It asked the Federal Government to explain how the savings and additional revenues generated since the subsidy removal have translated into tangible benefits for households.
The statement also demanded greater transparency over Federation Account revenues and other government financial decisions.
Atiku has previously proposed measures aimed at reducing energy costs and has argued that government intervention can be structured in a way that protects vulnerable Nigerians without recreating the inefficiencies associated with the former subsidy regime.
Tinubu’s position
The Tinubu administration has consistently defended the removal of the petrol subsidy as necessary to reduce pressure on government finances and redirect resources towards development.
The President has also argued that his economic reforms are producing stronger growth and improving Nigeria’s fiscal position.
Tinubu recently said Nigeria’s economy grew by 4.43 per cent in the second quarter of 2026, with growth recorded across agriculture, manufacturing, oil and gas and services.
The Presidency has previously rejected criticisms of the reforms, arguing that improved revenue collection and other economic changes are strengthening the country’s ability to finance development.
The question for Nigerians
At the centre of the disagreement is not only the price Nigerians pay for petrol, but whether the economic reforms are improving the lives of ordinary citizens.
While the Federal Government points to economic growth and improved fiscal indicators, critics argue that the ultimate measure of reform should be whether households can afford food, transportation, energy, healthcare and other basic needs.
For millions of Nigerians, the debate over fuel prices remains closely connected to the wider cost-of-living crisis.
The question now is whether the government’s economic gains can translate into lower living costs and more disposable income for ordinary Nigerians, or whether households will continue to bear the immediate burden of higher energy prices.
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