WHY DOES ATIKU DO POLITICS WITH GRANTS AND NELFUND?

Campaigns for the 2027 presidential elections have officially begun and unfortunately some candidates have taken the opportunity to make unrealistic promises just to deceive unsuspecting Nigerian voters. One such candidate is the presidential flag bearer of the African Democratic Congress, ADC, Alhaji Atiku Abubakar.
The former vice president has pledged to restore fuel subsidies if elected. Atiku argued that the removal of petrol subsidy by the current administration has pushed millions of Nigerians into severe poverty and hardship.
He also questioned how the trillions of naira saved from the removal of subsidies were used, saying citizens had not seen enough tangible benefits in infrastructure, security or job creation.

Atiku has made it clear that he will shift focus to supporting local refining and supplying crude oil to local refineries at preferential prices, rather than resurrecting the old corruption-plagued import subsidy regime.

The Presidency and some economists have described the Atiku proposal as regressive.
Atiku is simply playing with the issue of subsidies because he knows that Nigerians are still dealing with the consequences of the courageous and necessary decision to end them.
It is known that before President Bola Tinubu’s administration took office on May 29, 2023, the federal government borrowed money to pay for subsidies. The Nigerian National Petroleum Company Limited has stopped remitting money into the Federation account for distribution to the three levels of government. What profit deducted at source in the name of under recovery (subsidy)

In July 2022, (FAAC) shared a total of
N954.085 billion. But as of July 2026, the same has shared over N3 trillion between the three levels of government, representing an increase of over 200%. This can be attributed to the elimination of fuel subsidies and the reform of the tax system.

Let’s critically examine what Atiku proposes. It says it will give local refineries crude oil at a discounted price to enable them to sell refined products at low prices to Nigerians. This sounds good on paper. But what are the implications? First, selling crude oil to local refineries at marked-down prices means less money for NNPCL to pass on to FAAC.
Secondly, what is the guarantee that what is “cheap” is not smuggled into neighboring countries? Won’t this lead to a resurgence of cross-border smuggling that has already been tamed?

Instead of Atiku turning a blind eye and showing signs of desperation, he should tell Nigerians how to make the gains from subsidy removal work harder for the people and how state governors apply their improved gains to benefit ordinary Nigerians.

The ADC presidential candidate also promised to review the Nigerian Education Loan Fund (NELFUND) if elected. He said he will engage in debt relief for students who have already benefited from the program and will massively fund the education sector
NELFUND has so far provided financial support to over 1.5 million students in various tertiary institutions nationwide
More than £355 billion has been distributed to student beneficiaries to cover tuition fees and direct maintenance payments. The NELFUND initiative has ensured that millions of students who would have had to drop out due to poor family backgrounds continue to pursue their academic careers.
Furthermore, the constant payment of fees through the system has ensured a source of money for higher institutions, resulting in a regular academic calendar. It is instructive to note that the Academic Staff Union of Universities, ASUU, has not disappeared since President Bola Tinubu assumed office. This should be celebrated..

Yes, issue-based campaigns should be encouraged, but already resolved issues such as the removal of oil subsidies and NELFUND should not be sacrificed on the altar of politics and despair…

*Owaikhena Osikhekha is a public relations analyst based in Lagos.