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*ATIKU’S GRANT CLAIM IS A RETURN TO FUEL QUEUES, CANCELING THE MINIMUM WAGE AND CANCELLATION OF SCHOLARSHIP FOR NIGERIAN STUDENTS
The National President of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has called on Nigerians to carefully consider the economic consequences of former President Atiku Abubakar’s calls to return the country to the old fuel subsidy regime, warning that such a move could reverse hard-won gains from ongoing economic reforms.
Specifically, his subsidy demand will send Nigerians back to fuel queues, the removal of the current minimum wage, the cancellation of scholarships for Nigerian students, among other negative consequences for the masses.
Professor Yilwatda made the appeal in Abuja while receiving a delegation of critical economic stakeholders who visited him to discuss the state of the Nigerian economy, ongoing reforms and prospects for sustainable economic growth.
He said the debate over fuel subsidies should not be reduced to political rhetoric, but must be weighed against the country’s experiences under previous regimes, particularly the huge fiscal burden imposed on the government and the consequences for states, workers, education and infrastructure development.
According to him, former Vice President Atiku Abubakar’s proposal to reinstate fuel subsidies raises fundamental questions about how such a policy could be financed and sustained without returning Nigeria to the cycle of fiscal pressures that characterized the previous agreement.
“The subsidy may seem attractive because it promises cheaper petrol, but Nigerians must also ask themselves the bigger question: who pays for the subsidy and what happens to the resources the government must divert to finance it?
“A policy cannot be judged by its immediate benefits alone. We must examine its impact on government revenues, wages, pensions, education, healthcare, infrastructure and the government’s overall ability to meet its obligations to its citizens.”
Professor Yilwatda, in a statement by his Special Adviser on Media and Information Strategy, Abimbola Tooki, noted that prior to the current administration, several state governments faced serious difficulties in meeting their salary obligations, with some being unable to pay workers regularly and others resorting to partial salary payments.
He said the removal of the subsidy and the resulting increase in federal appropriations to states have significantly improved the fiscal position of many subnational governments, enabling them to meet wage and pension obligations and at the same time undertake development projects.
He therefore warned that any attempt to reintroduce subsidies must be subjected to rigorous economic scrutiny to ensure the country does not reproduce past fiscal pressures.
The APC Chairman also called attention to the education sector, recalling the prolonged disruption to academic activities in Nigerian universities under the previous administration.
He said Nigerians should be concerned about policies that could weaken governments’ ability to fund education and other essential public services.
“A return to a fiscally unsustainable subsidy regime could have consequences that go well beyond the price of gasoline. When government revenues are reduced, the first casualties are often critical sectors that directly impact the well-being and future of our people,” he said.
Regarding the new minimum wage, Professor Yilwatda said that the sustainability of improving workers’ wages must also be considered in the subsidy debate.
He explained that wage increases require a corresponding improvement in the ability of both federal and state governments to meet their recurring obligations.
According to him, the challenge is not simply to announce higher wages, but to create an economic environment in which governments can pay them consistently without sacrificing investments in infrastructure, education, healthcare and other essential services.
He added that the current reform agenda is also opening up opportunities in areas that were previously limited by Nigeria’s weak foreign exchange and payments infrastructure.
Professor Yilwatda cited the growing ability of Nigerians to use locally issued bank cards for legitimate transactions abroad and the expansion of digital payment opportunities as examples of changes that are enhancing the country’s participation in the global digital economy.
He said this is particularly important for young Nigerians, content creators, freelancers and other digital entrepreneurs whose livelihoods increasingly depend on the ability to receive and make international payments.
“Our youth are no longer limited by geographic borders. A Nigerian content creator, software developer, consultant or freelancer can provide services to clients anywhere in the world. But that opportunity requires a financial and payments system that can support the global digital economy.
“We must therefore be alert to policies that could undermine the progress made in strengthening Nigeria’s financial and digital ecosystem.”
The APC National Chairman also highlighted the Nigeria Education Loan Fund (NELFUND), describing it as an important intervention that has expanded access to finance for tertiary education and reduced the immediate financial burden for many families.
He said sustainable financing of education is crucial to ensure that young Nigerians are not forced to drop out because their parents cannot afford school fees and other educational expenses.
Professor Yilwatda stressed that the central question in the subsidy debate should be how to build an economy capable of producing sustainable prosperity rather than dependent on costly government interventions.
He acknowledged the difficulties that followed the removal of fuel subsidies and said the government must continue to strengthen measures that cushion the impact of the reforms on vulnerable Nigerians.
“The hardships Nigerians have experienced are real and the government must continue to respond to them. But the response cannot be simply to return to a system whose long-term fiscal implications have created serious distortions in our economy.
“What Nigerians deserve is an economy that can sustainably finance good wages, quality education, healthcare, infrastructure and social protection without depending on an opaque and expensive subsidy system.”
The APC Chairman said Nigerians are entitled to a thorough debate on economic policy, but such debate must be anchored in facts, sustainability and lessons of recent history.
He urged political leaders proposing a return to subsidies to provide Nigerians with clear answers on the costs, financing mechanism, duration and long-term sustainability of such a policy.
“Every time someone proposes a return to subsidies, Nigerians should ask themselves: How much will it cost? Where will the money come from? What programs will be sacrificed to fund it? And how long can the government sustain it?
“These are legitimate questions that need to be answered before the country embarks on another costly political experiment.”
Professor Yilwatda said the APC-led Federal Government remains committed to reforms aimed at building a more productive, competitive and sustainable Nigerian economy.
He called on economic stakeholders, professional bodies, workers’ organisations, businesses and citizens to continue to engage the Government constructively on how to make the reforms work better and ensure their benefits are more widely shared.
He added that Nigeria’s economic future should not be determined by short-term political calculations, but by policies that ensure sustainable growth, employment, investment and improved standards of living for present and future generations.
Signed
Abimbola Tooki
Special Advisor to the National President of APC
(Media and Information Strategy)
