Atiku Slams Tinubu Over ₦1,470 Petrol Price and Demands Answers

(Former Vice President Atiku Abubakar. Photo by Vanguard news)

Former Vice President Atiku Abubakar has criticized President Tinubu's administration over petrol prices, saying Nigerians are paying ₦1,470 per litre even though crude oil is currently much cheaper than it was in 2008.

Atiku pointed out that in 2008, when crude sold for $147 per barrel, petrol cost only ₦65 per litre under President Yar'Adua.

Today, with crude at $102.52 per barrel, petrol costs ₦1,470 per litre.

He said the difference shows that the Yar'Adua government understood the need to protect citizens' welfare.

The former Vice President accused the Tinubu administration of running an organised system of theft against Nigerians through unclear FAAC deductions, questionable oil revenue management and undisclosed transactions.

He said the high fuel price affects everything transportation, food, school fees, farming and manufacturing.

Atiku recalled that Nigerians were told subsidy removal would free up money for education, healthcare and infrastructure.

Yet nearly three and a half years later, there's no clear explanation of where that money has gone.

He demanded a full accounting of Federation Account revenues from 2023 onwards, showing every deduction and where the money ended up.

He also called for complete disclosure about the Renewed Hope Infrastructure Development Fund, oil production revenues, NNPC's LNG trading and allegations of unofficial crude lifting and other off-book transactions.

He said if everything is in order, the government should publish the records and allow independent auditors to verify them.

Atiku pointed out the unfairness of fuel prices. US petrol costs about $1.14 per litre with a minimum wage of $7.25 per hour.

Nigeria's fuel costs nearly the same amount, but the minimum wage is only ₦70,000 per month.

He said Tinubu has matched American fuel prices while leaving Nigerians with Nigerian poverty wages.