The Tinubu Support Group (TSG) says any attempt to reverse the federal government’s fuel subsidy reform could set Nigeria back by 20 years.
In a statement issued on Monday, Umar Yakasai, TSG director-general, accused former Vice-President Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), of playing politics with the issue ahead of the 2027 elections.
Yakasai said Nigerians should be wary of political promises that could undermine the country’s economic reforms.
According to him, Atiku’s position is capable of creating uncertainty among investors and reversing some of the gains recorded since the reform.
In August, Atiku had said he would restore the petrol subsidy if elected president in 2027.
Atiku, who spoke in Hausa during an interview with an ADC media group, said the administration of President Bola Tinubu had failed to account for the funds saved from the removal of the petrol subsidy.
However, President Tinubu faulted Atiku’s plan, saying the proposal showed “serious ignorance of governance and economy”.
The president noted that before he assumed office, some states struggled to pay salaries and pensions, adding that the removal of the subsidy had made more funds available to the sub-nationals.
He said Nigeria had already gone through the difficult phase of the subsidy reform and could not afford to return to a system that placed a heavy financial burden on the government.
Yakassai said the federal government no longer had the resources required to sustain the subsidy regime, noting that attempting to restore it could further strain the country’s finances.
The TSG director-general said the subsidy debate should not be reduced to an electoral promise due to its implications for the country’s fiscal position and long-term economic stability.
He added Atiku might not intend to reverse the subsidy reform in the manner initially understood by Nigerians.
Yakasai said Atiku’s consistent stand on the removal of petrol subsidy since 1999, beginning with the Obasanjo presidency, where he served as vice-president and chairman of the national economic council, up to his 2023 presidential campaign.
“The question Nigerians should ask is when did Atiku change his longstanding position on fuel subsidy removal, which he has held for over two decades, and what has changed to warrant the sudden reversal of policy on subsidy,” he said.
“Is it a populist move to play to the gallery and deceive Nigerians in order to get votes through false promises?”
The TSG director-general cautioned opposition politicians against making promises that could raise unrealistic expectations among Nigerians or unsettle investors.
He said Nigeria had begun to emerge from the economic difficulties associated with decades of dependence on fuel subsidies.
Yakasai said reversing the policy could undermine ongoing efforts to rebuild the economy, urging Nigerians to scrutinise political promises ahead of the 2027 elections.
Yakasai said the economic indicators showed that Nigeria was beginning to move in the right direction, noting that the economy grew by 4.43 percent in the second quarter of 2026, compared with 3.89 percent in the first quarter.
He added that crude oil production had also increased to about 1.72 million barrels per day, noting that such developments should be consolidated instead of disrupted promises to reverse existing reforms.