By Augustine Ehikioya
The Presidency on Sunday described former Vice President Atiku Abubakar’s attack on NNPC Retail’s 30-day petrol price discount as “shallow, election-laced demagoguery” unplugged from global realities.
Special Adviser to President on Media and Public Communications, Dr. Sunday Dare, in a statement titled “Atiku’s Demagoguery In The Face Of Tinubu’s Logical Policies”, said Atiku’s press conference in Abuja where he faulted the discount and modulation framework exposed structural ignorance of energy dynamics and fiscal mechanics.
“Former VP Atiku Abubakar’s recent press conference is a seminal example of shallow, election-laced demagoguery. Atiku Kachalla, totally unplugged from global realities and consumed by unbridled lust for power, is a Lone Ranger,” Dare said.
He cited global examples: in UK, Prime Minister Andy Burnham offered Google Maps link to find best gas prices amid oil market impact; in US, President Trump signed executive order “Emergency Tax Relief on Diesel Fuel” October 5, 2026 and announced diesel supply deal with Russia despite Ukraine war; close to 10 other countries employing various means to provide relief.
“In close to 10 other countries, leaders are employing various means to provide relief. But in Nigeria, a President offers the same, and a misguided candidate chooses to dance on the sufferings of Nigerians,” Dare said.
Dare accused Atiku of exploiting transitional discomfort, appealing to emotional cynicism and promising mathematically impossible quick fixes.
He faulted Atiku’s proposal for a blanket “production subsidy”, calling it a dangerous mathematical fantasy.
“Unhinged, Atiku arrogantly claims President Tinubu copied his economic homework while stripping away the core element that makes it work: production subsidy. Let us examine the actual numbers Atiku deliberately conceals,” he said.
Quoting Coordinating Minister of Economy and Finance Taiwo Oyedele on Channels TV, Dare said Nigeria produces about 1.8 million barrels per day for over 200 million people, but under Joint Ventures and Production Sharing Contracts, equity crude available to state is fewer than 700,000 bpd unencumbered free crude.
He said mega-refineries like Dangote Refinery require immense daily feedstock exceeding state free provision, and must supplement by importing crude.
“To propose a blanket targeted production subsidy on crude without physical, unencumbered volume to back it up is pure economic illiteracy. It invites very opacity, fraudulent round-tripping, fiscal haemorrhage that crippled Nigeria for decades,” Dare argued.
He compared the US producing over 10 million bpd for 330 million people yet sells at market price, Qatar with large gas reserves for fewer than 500,000 citizens yet cut energy subsidies.
Dare said Atiku framing NNPC Retail decision to forgo profit margin as return to fuel subsidy is deliberate mischaracterisation.
