By Seyi Odewale
The member representing Agege Federal Constituency of Lagos State in the House of Representatives, Dr Wale Ahmed, has rejected Atiku Abubakar’s proposed subsidy reversal, warning it could derail Nigeria’s economic recovery.
Ahmed, in a statement issued on Sunday, described the proposal by the African Democratic Congress presidential candidate as economically unsustainable and politically expedient.
Atiku had promised to restore the petrol subsidy if elected President in 2027, arguing that Nigerians had suffered significantly since President Bola Tinubu removed it.
But Ahmed said reversing the policy would return Nigeria to an expensive system that drained public resources and created opportunities for abuse.
“Nigeria cannot afford to return to the subsidy era. What we need is to consolidate reforms and ensure their benefits reach ordinary Nigerians,” Ahmed said.
He said the removal of subsidies had improved government revenues by freeing up resources previously committed to keeping petrol prices artificially low.
“The question should be how these additional resources are deployed to improve infrastructure, healthcare, education, transportation and security, not how we recreate an unsustainable subsidy regime,” he said.
Ahmed also challenged Atiku to explain how his proposed subsidy arrangement would be funded without worsening Nigeria’s fiscal position.
“Where will the money come from? Will government borrow again to finance subsidy? Will allocations to states and local governments be reduced? Nigerians deserve clear answers,” he said.
The lawmaker said the claim that subsidy savings had disappeared was misleading, noting that the resources accrued to the federation.
“The savings were not money kept in a vault by the Federal Government. They increased revenues available to the federation and were shared among the three tiers of government,” he said.
Ahmed urged Nigerians to distinguish between temporary adjustment pains and long-term economic restructuring.
“Nobody is denying the hardship. It is real. But returning to the policies that contributed to our fiscal problems cannot be the solution,” he said.
He urged the Federal Government to accelerate measures to reduce production and transportation costs, including improvements in electricity supply and agricultural investment.
The lawmaker strongly backed President Bola Tinubu’s economic reforms, describing the President’s decisions as difficult but necessary steps towards rebuilding Nigeria’s economy.
“President Tinubu demonstrated political courage by taking decisions previous administrations postponed. We should improve these reforms, not abandon them,” he said.
Ahmed also expressed confidence in Tinubu’s chances of securing another term in 2027, saying Nigerians would increasingly appreciate the reforms as their benefits become clearer.
“I strongly support President Tinubu for 2027. Nigerians will ultimately choose sustainable economic management over promises that may offer temporary relief but create deeper problems,” he said.
He urged voters to scrutinise political promises and demand credible funding plans before supporting proposed economic policies.
