Atiku Will Boost Local Refining Without Subsidising Imported Petrol — Spokesperson Replies Tinubu Govt
Senior Special Assistant on Public Communication to former Vice President Atiku Abubakar, Phrank Shaibu, has criticised the Special Adviser to the President on Media and Public Communication, Sunday Dare, over his comments regarding Atiku’s proposed petroleum policy.
Shaibu clarified that the Atiku Economic Recovery Plan (AERP) does not advocate for a return to subsidising imported petrol. Instead, he explained that the plan proposes a targeted, capped and audited subsidy designed specifically to boost domestic production.
“Atiku is not proposing a return to subsidising imported fuel. The Atiku Economic Recovery Plan proposes a targeted, capped and audited subsidy for Nigerian production — precisely to strengthen local refining, reduce production costs and save foreign exchange,” Shaibu stated.
Dismissing arguments from the Presidency that supporting local refiners would sabotage domestic refining or drain foreign exchange, Shaibu compared that logic to claiming that providing farmers with cheaper inputs would destroy agriculture.
“You say supporting local refining will ‘sabotage local refining.’ That is like saying feeding your child will sabotage his growth,” he said.
He further challenged the Presidency’s claims regarding foreign exchange flight, noting that refining crude locally directly reduces reliance on imported fuel and keeps scarce dollars within the domestic economy.
“The old model burnt scarce dollars importing refined fuel. Atiku says: refine more at home, import less from abroad and keep more of our dollars at home. Somehow, Sunday Dare has translated saving foreign exchange into haemorrhaging foreign exchange,” Shaibu noted.
Urging presidential aides to focus on sound economic principles rather than relying on high-sounding rhetoric to obscure weak arguments against structural policy reforms, Shaibu urged the administration’s spokespersons to ensure their economics could support their vocabulary.
“Before dressing a weak argument in expensive grammar like ‘nascent renaissance’ and ‘sordid narrative of regression,’ first make sure the economics can carry the weight of the English,” Shaibu added.
COURTESY: Nigerian News Direct
