Oil
YPP presidential hopeful rejects petrol subsidy return for 2027
Peter Agada of the Young Progressives Party has stated he will maintain the removal of the petrol subsidy if elected.
Key points
- YPP presidential candidate Peter Agada backs the current petrol subsidy removal.
- African Democratic Congress candidate Atiku Abubakar supports restoring the subsidy.
- Agada argues that oil revenue management and public spending are Nigeria's core economic challenges.
What happened
Young Progressives Party (YPP) presidential candidate Peter Agada has stated that he will not reintroduce the petrol subsidy if he wins the 2027 presidential election, according to Legit.ng. Speaking on Channels Television's Politics Today, Agada aligned himself with the contentious reform initiated by President Bola Tinubu when he scrapped the petrol subsidy on May 29, 2023.
Not all political figures share this perspective. African Democratic Congress candidate Atiku Abubakar has advocated for restoring the subsidy to lower fuel costs and ease economic hardship for citizens. Legit.ng reported that Abubakar recently urged voters to seek political change in 2027 to address rising costs, hunger, and security issues.
Why it matters
Rather than focusing on the subsidy, Agada argued that Nigeria's primary economic hurdles lie in how the nation manages its oil earnings and public expenditure. Citing comments by Minister of State for Finance Taiwo Oyedele, he questioned the net revenue retained by the federal government after production costs and royalties are settled.
Agada also pointed to inefficiencies in the Engineering, Procurement and Construction (EPC) system as a major source of waste. He identified wasteful public spending and financial leakages as greater threats to the economy than the removal of the petrol subsidy, maintaining that improved governance is the solution.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
