Former Ekiti State Governor and ex-Minister of Solid Minerals Development, Kayode Fayemi, has described the fuel subsidy proposal by the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, as a political strategy rather than a sound economic policy.
Fayemi made the comment on Monday during an interview on Arise Television’s Prime Time, while discussing the renewed debate over fuel subsidy removal and Atiku’s position on the issue.
According to him, Atiku’s proposal is aimed at winning the support of Nigerians who have been affected by the economic hardship that followed the removal of petrol subsidy.
“My take on that is that Atiku’s proposal of subsidy is politically equivalent to our own Muslim-Muslim ticket in 2023. It’s a political strategy. It’s not an economic construct,” Fayemi said.
The former governor, however, maintained that he remains a strong supporter of fuel subsidy removal, noting that he had advocated the policy for several years.
Fayemi recalled that as chairman of the Nigerian Governors’ Forum (NGF), he spent years engaging with the Federal Government on the need to eliminate fuel subsidy.
“I was and I remain an advocate of fuel subsidy removal. As chairman of the governors’ forum, I spent four years in this battle,” he said.
He acknowledged that subsidy removal had created significant hardship for many Nigerians, particularly vulnerable households. Fayemi argued that this hardship had made Atiku’s position politically attractive.
“But understandably, it’s a political strategy that will sell with those who are hard done by the impact of fuel subsidy removal,” he stated.
Fayemi also said President Bola Tinubu inherited significant groundwork on subsidy removal from the previous administration, although he criticised the manner in which the policy was implemented.
“What President Tinubu inherited, in fairness to him, was the work that had already been completed by that administration. The only challenge I had with it was the way it was done,” he said.
He disclosed that the Nigerian Governors’ Forum had previously worked with the Federal Government and the World Bank on plans to establish a safety net for Nigerians most vulnerable to the effects of subsidy removal.
According to Fayemi, the failure to adequately protect vulnerable Nigerians has contributed to the public dissatisfaction that Atiku is now seeking to leverage politically.
“I believe that’s what Vice President Atiku is taking advantage of. The vulnerable segment of the population is still hard done by,” he said.
Fayemi explained that many Nigerians affected by the rising cost of living were less concerned about the technical arguments surrounding subsidy policy and more focused on meeting their basic needs, including food, education and healthcare.
He also linked poverty and inequality to some of the security challenges confronting the country, including insurgency and banditry.
The former governor maintained that Atiku’s subsidy position should be viewed against the backdrop of the 2027 presidential election.
He compared the proposal with the APC’s decision to field a Muslim-Muslim presidential ticket in the 2023 election, arguing that both were political strategies intended to appeal to specific segments of the electorate.
Fayemi said Atiku was attempting to capitalise on widespread dissatisfaction over the economic impact of subsidy removal by presenting a policy position likely to resonate with Nigerians facing financial difficulties.
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