The Nigerian Presidency has publicly criticized former Vice President Atiku Abubakar for his inconsistent statements regarding fuel subsidy, suggesting that his recent policy proposals are politically motivated rather than grounded in a coherent economic strategy.

Atiku, who is the presidential candidate for the African Democratic Congress (ADC), has recently stated his intention to reinstate fuel subsidies to alleviate the financial burden on Nigerians. However, his aides have provided conflicting statements about the nature and duration of this subsidy, leading to confusion about his actual position.

In a statement issued by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, the Presidency pointed out that Atiku's aides have offered three different explanations of his proposed fuel subsidy policy within a week. Initially, Atiku's spokesperson, Paul Ibe, indicated that the subsidy would be a temporary measure, allowing for a phased withdrawal once the economy stabilized. This was later contradicted by another aide, Phrank Shaibu, who claimed that Ibe’s comments were unauthorized and that no specific timeline for ending the subsidy would be set.

Atiku himself then intervened to clarify that his position had not changed, reaffirming his commitment to a 'targeted subsidy' aimed at restoring purchasing power for Nigerians. This back-and-forth has raised questions about the viability and clarity of Atiku's economic proposals.

The Presidency has expressed concern that Atiku's approach reflects a fundamental misunderstanding of the complexities involved in the petroleum market, stating that simply reinstating a subsidy will not address the underlying factors affecting fuel prices, such as global oil prices, exchange rates, and refining costs. They emphasized that competition and efficiency improvements cannot insulate Nigeria from these external market influences.

Moreover, the Presidency noted that Atiku's assertion that rising fuel prices directly lead to increased food prices is an oversimplification. While energy costs do impact food prices, they are not the sole factor, as agricultural productivity, security issues, and logistical challenges also play significant roles.

The statement called for Atiku to provide a clear, detailed explanation of his subsidy proposal, including its costs, funding mechanisms, and the criteria for determining beneficiaries. The Presidency warned that Nigerians cannot afford another ambiguous subsidy regime that could lead to financial strain.

In closing, the Presidency urged Atiku to either present a well-structured and economically sound petroleum policy or refrain from using the issue as a political tool during the upcoming elections. They emphasized that the economy requires serious and coherent policies, not populist promises that could undermine fiscal stability.