ABUJA, NIGERIA — The Presidency has launched a scathing attack on African Democratic Congress presidential candidate Atiku Abubakar, describing him as a “political chameleon” and a “veteran presidential candidate” in response to claims by Dangote Refinery that changes to government fuel price control and subsidy restoration would affect refining margins.
The Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, made the remark in a post on X on Sunday, warning that the reintroduction of fuel subsidies would not only imperil Dangote Refinery but also ruin Nigeria’s entire economy. His comments came after Dangote Refinery issued the warning in its prospectus for its proposed Initial Public Offering on Thursday.
“Dangote refinery warned that changes to government fuel price controls and subsidy reintroduction could hurt its refining margins and make financial forecasting harder. Not only will Dangote Refinery be imperilled, but the entire economy will also go into ruin. Let Atiku Abubakar, the political chameleon, know this,” Onanuga wrote.
The presidential spokesman also claimed that Atiku’s proposed production subsidy was tried during the administration of former President Olusegun Obasanjo, when Atiku served as vice president, and that it failed. “Our veteran presidential candidate, your proposed production subsidy was tried when you were vice president about 20 years ago. It failed. President Obasanjo ordered NNPC to pay the full international price for refinery crude. Read the submission here,” Onanuga added.
The exchange marks the latest escalation in the war of words between the Presidency and Atiku’s campaign over the contentious issue of fuel subsidy. Atiku has consistently argued that the removal of fuel subsidies by the Tinubu administration was implemented without adequate safeguards and has pledged to reintroduce a managed subsidy regime if elected in 2027. He has maintained that his proposed model would not be a return to the old import-subsidy regime but a targeted, capped, transparently budgeted, and independently audited intervention designed to support domestic refining and reduce the cost burden on consumers.
The Presidency has consistently defended the removal of subsidies, arguing that maintaining an artificially low price would have rendered the Dangote Refinery commercially unviable and stifled private sector investment in Nigeria’s downstream petroleum sector. Onanuga’s latest remarks underscore the administration’s determination to frame the subsidy debate as a choice between economic ruin and fiscal responsibility.
Atiku’s campaign has not yet responded to the Presidency’s latest attack. The former vice president has repeatedly dismissed criticism from the ruling party, insisting that his economic proposals are designed to alleviate the suffering of ordinary Nigerians and to restore the country’s economic fortunes. As the 2027 elections approach, the subsidy debate is likely to remain a central issue, with both the ruling party and the opposition seeking to win the support of voters on the basis of their economic agendas.
