Group Faults Atiku, Defends Tinubu’s Relief Measures

The Tinubu Support Group (TSG) has faulted former vice president Atiku Abubakar’s criticism of the federal government’s 30-day petrol relief initiative, insisting that the measure is aimed at easing the financial burden of rising fuel prices on Nigerians.

The group said the Nigerian National Petroleum Company Limited (NNPCL) decision to temporarily forgo its petrol retail profit margin was a short-term intervention to cushion the impact of high fuel prices on transportation costs, rather than a return to the fuel subsidy regime abolished in May 2023.

The director-general of TSG, Dr Umar Tanko Yakasai stated this in a statement on Friday, arguing that the initiative demonstrated the government’s willingness to provide immediate relief while sustaining its broader economic reforms.

He said the arrangement, under which NNPC Retail intends to sell petrol at cost by foregoing its retail profit margin for an initial 30 days, was fundamentally different from the previous subsidy system, which involved government expenditure to keep petrol prices below market levels.

“President Tinubu understands the pressure that rising petrol prices place on Nigerian households, workers, traders and businesses. The 30-day intervention is one of the measures being explored to cushion the impact of the global oil-price shock on Nigerians,” Yakasai said.