2027: ADC Promises to Subsidise Crude Oil Production to Lower Fuel Prices

The African Democratic Congress (ADC) has said Nigerians are too poor to be left entirely at the mercy of market forces, pledging to subsidise crude oil production to make petroleum products more affordable if elected in 2027.

The party’s National Publicity Secretary, Bolaji Abdullahi, stated this on Monday during an interview on Channels Television’s Politics Today, while explaining the party’s position on fuel subsidy.

Abdullahi said the ADC and its presidential candidate, former Vice-President Atiku Abubakar, believed the government had a responsibility to protect citizens from the effects of rising living costs.

“Nigerians are too poor to be left to market forces. We cannot have people so poor and leave them without subsidy. So, we are going to subsidise production,” he said.

He explained that the party’s proposal would focus on supporting crude oil production and making the commodity available to domestic refineries at lower costs, rather than returning to the previous system of subsidising petrol consumption.

According to him, Nigeria’s status as an oil-producing country provides an opportunity for the government to intervene in production costs and make fuel more affordable for households and businesses.

“Whatever we need to do to subsidise the production of crude and make it cheap and deliver it to the people of Nigeria, we are going to do it,” he added.

The ADC spokesman likened the party’s proposed intervention to a country defending itself during wartime, arguing that protecting citizens’ welfare should take precedence over rigid adherence to market principles.

He also criticised the administration of President Bola Tinubu for removing the petrol subsidy without putting adequate measures in place to cushion the resulting economic hardship.

Abdullahi questioned the government’s spending priorities, citing the Lagos-Calabar Coastal Highway as an example of a project he considered less urgent than measures to ease the burden of rising living costs.

He argued that comparisons between Nigeria and developed countries should take into account differences in public services, particularly access to affordable education and efficient public transportation.

The ADC spokesman also expressed concern over the state of public education, saying many Nigerian families had been compelled to rely on private schools in search of better learning opportunities.

He maintained that government policies should be assessed based on their impact on citizens’ welfare, security and living conditions, insisting that economic reforms should not leave vulnerable Nigerians without adequate support.

Abdullahi further criticised Finance Minister Taiwo Oyedele, arguing that Nigeria’s economic challenges required the appropriate economic expertise and policy direction.

He said the ADC would make affordability a central focus of its proposed economic programme under Atiku’s leadership.

The party’s position comes amid continued debate over the removal of petrol subsidy and the effects of higher fuel prices on transportation, food costs and household spending.

While the Federal Government has maintained that its recent petrol price discount at Nigerian National Petroleum Company Limited retail outlets does not amount to a restoration of the subsidy, the ADC insists that government intervention is necessary to reduce production costs and ease the pressure on Nigerians.