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STATEHOUSE PRESS RELEASE ATIKU’S DEMAGOGUERY IN THE FACE OF TINUBU’S LOGICAL POLICIES Former Vice President Atiku Abubakar’s recent press conference in Abuja—where he attacked NNPC Retail’s 30-day discount on petrol price and a modulation framework—is a seminal example of shallow, election-laced demagoguery. Atiku “Kachalla”, totally unplugged from global realities and consumed by an unbridled lust for power, is a Lone Ranger. In the United Kingdom, because the international oil market affects local pump prices, Prime Minister Andy Burnham offered Britons a Google Maps link to find the best gas prices. Google Maps' Fuel Prices feature helps drivers compare near-real-time petrol and diesel prices at local forecourts. In America, President Trump signed an executive order titled "Emergency Tax Relief on Diesel Fuel" on October 5, 2026 and announced a diesel supply deal with Russia, not minding if it derails his avowed commitment to end the Russia-Ukraine war. In close to 10 other countries, leaders are employing various means to provide relief for citizens. But in Nigeria, a President offers the same, and a misguided presidential candidate chooses to dance on the sufferings of Nigerians and exploit it for political gains. For decades, political opportunism in Nigeria has relied on a single, toxic formula: exploit temporary transitional discomfort, appeal to emotional cynicism, and promise mathematically impossible quick fixes to a sophisticated electorate. Calling a calibrated, multi-layered economic stabilisation strategy a "panic-driven gimmick" reveals more than partisan bitterness; it exposes a profound, structural ignorance of global energy dynamics, fiscal mechanics, and the plain arithmetic of modern Nigeria. Atiku’s soundbite-driven critique relies on emotional bait, trying to buy future votes with cheap sentimental appeals while ignoring the structural rot that President Tinubu’s administration has systematically dismantled over the last three years. Atiku's attempt to position himself as the "smart student" teaching economic policy falls apart under even light scrutiny. First, it is sheer absurdity that a man who graduated from a school of hygiene dares to call a first-class accounting graduate a dull student. Second, Atiku’s proposal for a blanket "production subsidy" is not an alternative economic model—it is a dangerous mathematical fantasy wrapped in political deceit. Unhinged, Atiku Abubakar arrogantly claims that President Tinubu copied his economic homework while stripping away the core element that makes it work: the "production subsidy." But let us examine the actual numbers that Atiku deliberately conceals from the Nigerian public. As Coordinating Minister of the Economy and Minister of Finance Taiwo Oyedele clearly articulated on Channels TV, Nigeria currently produces about 1.8 million barrels of crude oil per day (bpd) for a population of over 200 million people. Simplistic populists like Atiku deliberately deceive citizens by pretending that the Federal Government directly owns all 1.8 million barrels and can distribute or discount them at will. Under complex Joint Ventures (JVs) and Production Sharing Contracts (PSCs) signed over decades, production costs, royalties, and profit-oil sharing ratios severely reduce the equity crude available to the state. After accounting for these statutory and contractual obligations, Nigeria has fewer than 700,000 barrels per day of unencumbered "free crude" to give away. Mega-refineries like the Dangote Petroleum Refinery require immense daily feedstock that far exceeds what the state can freely provide without breaching existing international supply contracts or bankrupting national revenues. Consequently, Dangote and other domestic refiners must supplement local supplies by importing crude from international markets. 1/3
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