Abuja was thrown into political fireworks yesterday as President Bola Ahmed Tinubu publicly tore into former Vice President Atiku Abubakar, branding his pledge to bring back petrol subsidy as “serious ignorance” about how government and the economy work.
The President spoke at the State House while hosting Osun State Governor Ademola Adeleke, turning what should have been a congratulatory visit into a frontline debate over the most painful economic decision of his administration.
“Serious Ignorance”: Tinubu fires back at Atiku
“I saw one of my opponents now say he will go back to subsidy. I read it. That is a demonstration of serious ignorance on governance and economy,” Tinubu said.
He reminded critics that before May 29, 2023, 27 states could not pay salaries or pensions. With subsidy gone, he argued, states now have more money to meet obligations.
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“They come to the federal, cap in hand, unable to do anything. The salaries you pay feed families. They are at the local governments, they are in the states. Where is the concentration of population? It is in the states,” he told Adeleke.
Tinubu insisted that increased allocations must translate to roads, schools, healthcare and wages, because “take out the president, regard every other person as common men, they have families to feed.”
Atiku’s U-turn: From subsidy killer to subsidy savior
Atiku, now ADC presidential candidate for the January 16 election, stunned observers by vowing to restore subsidy during a Hausa-language online session.
Four years ago he campaigned to scrap it, citing corruption. Now he says the N15.8 trillion that has accrued since removal cannot be traced.
“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now?” he asked.
The government counters that N5.4 trillion went to the Federal Government and N10.4 trillion to states and local councils, with N30.64 trillion spent on wages, debt servicing and infrastructure over the same period.
Presidency and Wike: Desperation, not economics
The Presidency called it a power play. Special Adviser Bayo Onanuga said Atiku’s volte-face five months to the poll was “desperate” and “fiscally unsustainable,” warning it would reverse gains from the Petroleum Industry Act and jeopardise Dangote Refinery and smaller local refineries.
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FCT Minister Nyesom Wike was blunter, accusing Atiku of “voodoo economics.”
“This was a man in 2023 who said he was going to remove the fuel subsidy because it was a fraud. Now in 2026, he was not going to remove the fuel subsidy. Is he going back to the fraud?” Wike asked.
With subsidy removal now law and refineries humming, the battle lines for 2027 are clear: go back, or go forward.
