The Independent Media and Policy Initiative has disagreed with the presidential candidate of the African Democratic Congress, ADC, in the 2027 general elections, former Vice President Atiku Abubakar, on his policy statement to restore petrol subsidy. Atiku had declared that "A nation as blessed as ours has no business abandoning its citizens to hardship. Nigeria is rich enough to look after her own."
However, the Independent Media and Policy Initiative, in a statement in Abuja by the Chairman, Omoniyi Akinsiju, was of the view subsidy reversal could send a negative signal to international investors by suggesting that Nigeria was returning to regulated petrol pricing after the Federal Government had spent more than three years pursuing deregulation of the downstream oil sector.
Meanwhile, the group did not say how many foreign investors have come to Nigeria since the removal of petrol subsidy.
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