Former Vice President Atiku Abubakar has backed the call by the Independent Petroleum Marketers Association of Nigeria (IPMAN) for government intervention to help reduce petrol prices.
Atiku said the position taken by petroleum marketers aligns with his proposal for making energy more affordable through greater support for domestic refining.
His reaction comes amid renewed concern over petrol prices and the impact of rising energy costs on Nigerian households and businesses.
Atiku Backs Domestic Refining
Atiku’s position was conveyed through his Senior Special Assistant on Public Communication, Phrank Shaibu.
According to Shaibu, IPMAN’s call is significant because the association represents operators who purchase, distribute and sell petroleum products and therefore have direct experience of how fuel prices affect consumers and businesses.
Atiku’s camp argued that stronger support for domestic refiners could increase local supply and help put downward pressure on pump prices.
IPMAN Calls For Intervention
IPMAN has urged the Federal Government to intervene with domestic refiners as petrol prices remain a major concern for motorists and businesses.
The call comes at a time when changes in ex-depot prices have been reflected in pump prices in some locations.
Recent reports indicated that Dangote Refinery’s gantry price had moved upward several times, contributing to changes in retail petrol prices in the Federal Capital Territory.
IPMAN has also indicated that petrol prices could adjust again as new products enter the market.
Atiku Criticises Subsidy Policy
Atiku has consistently argued that Nigeria needs a different approach to energy policy.
The ADC presidential candidate has criticised the government’s handling of petrol prices and has advocated policies aimed at making domestic refining more competitive.
His latest statement also comes amid an escalating political disagreement with President Bola Tinubu over the removal of fuel subsidy and the consequences for consumers.
Atiku has argued that Nigerians should benefit from lower production and refining costs rather than continuing to bear the full burden of high petrol prices.
Fuel Prices Remain Major Political Issue
Petrol pricing remains one of the most politically sensitive economic issues in Nigeria.
The removal of the petrol subsidy under Tinubu significantly changed the country’s downstream petroleum market, while subsequent fluctuations in crude oil prices, exchange rates and domestic refining costs have continued to affect pump prices.
With the 2027 election approaching, fuel affordability is expected to remain a major campaign issue.