The African Democratic Congress (ADC) has described President Bola Tinubu administration’s proposed petrol price intervention as a loan to Nigerians, arguing that the arrangement would only postpone payment rather than provide lasting relief.
In a statement issued in Abuja on Friday, Bolaji Abdullahi, the party’s national publicity secretary, said Nigerians would eventually bear the cost of the concessions suppliers were expected to make under the proposal.
“This is not subsidy. Calling it subsidy would be dignifying it. It is another announcement this government has made without thinking through what it means for the Nigerian people,” the party said.
The ADC argued that the proposed intervention would allow the government to present a price reduction to the public while leaving consumers to pay the deferred costs later.
“The principle is straightforward: what suppliers forgo today, Nigerians will pay later. The government wants to announce a discount, collect the applause and leave the Nigerian people to settle the bill,” the statement reads.
The party also described the proposal as an electoral gimmick, saying Nigerians understood the difference between an actual discount and a payment that had merely been postponed.
“Even as an electoral gimmick, it insults common sense. Nigerians know the difference between a discount and a debt. A payment postponed is still a payment owed,” it added.
The opposition party further criticised the separate 30-day waiver of the Nigerian National Petroleum Company (NNPC) Limited’s retail profit margin, saying the measure would not address the persistent increase in living costs.
“Food bills and transport fares will not disappear after 30 days. Nigerians need lasting relief,” the statement reads.
The ADC said President Bola Tinubu’s administration should not present the intervention as a reduction in the burden on Nigerians if the costs would eventually be passed on to them.
“President Tinubu wants gratitude now and repayment later. He cannot claim to have lifted a burden while making arrangements to put it back after 30 days,” the party added.
