The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said his proposed fuel subsidy policy would focus on supporting local production rather than subsidising imported petrol.
Atiku, in a statement shared on his official X account, explained that his plan would support locally refined crude, lower production costs and ultimately reduce the price of fuel and other essential goods.
He said the approach would be similar to supporting local manufacturers instead of using public funds to make imported products cheaper.
Using shoemaking as an example, Atiku argued that supporting local producers in Aba would encourage domestic production, create jobs and make products more affordable.
According to him, the proposed production subsidy would go beyond reducing petrol prices, as cheaper locally produced fuel could also lower transportation costs, food prices and the operating expenses of small businesses.
Atiku said his goal was to reduce the amount households and businesses spend on fuel, transport and energy, thereby leaving them with more disposable income.
He added that his economic policies would be designed to ease financial pressure on Nigerians and make essential goods and services more affordable.
