This morning, the international price of Brent crude climbed from $104.2 to $104.50 per barrel just as petrol price has risen to as high as N1,900 in Port Harcourt, Nigeria.
Meanwhile, the Tinubu administration has been all over the place - going from terming Atiku Abubakar ignorant in governance to legal and fiscal factors make the Atiku subsidy plan unworkable to subsidy will never come back to subsidy return will make petrol cost 2,000/litre to endorsing and copying the Atiku subsidy plan (albeit without the lesson) to finally re-introducing subsidy through the back door in the form of a 30-day discount on petrol price.
Last night, the administration went a step further by deploying unarguably one of the coolest, smoothest talking manipulators Nigeria has seen in a very long time, the tax advovate-turned Minister of Finance to add to its desperate ploy to pull the wool over the eyes of Nigerians.
The cool, calm and calculated dude (I give that to him), looked Nigerians koro koro in the eyes and told us that Nigeria cannot afford to give 700,000 barrels of crude per day. As if Nigeria or the Atiku production subsidy plan requires us to give the Dangote refinery 700,000 barrels of crude per day for domestic consumption.
When asked how much oil we have today to work around with, he said he didn't have the figure. He had and parroted every unimaginable figure (true and half true), but he didn't have the most important figure relevant to the discussion.
That is for you, my fellow Nigerians, to judge.
Back to the incompetently and mischievously copied Atiku subsidy plan.
The Tinubu administration - in a desperate and confused attempt to defend an indefensible position or non-position - has variously said:
▪︎ The NNPCL will sell petrol at a ceiling of N1,350 per litre.
Note that on 6th of April 2026, 'NNPCNEWS' officially reported that "NNPC Retail Limited (the downstream subsidiary of NNPCL) currently operates over 500 filling stations nationwide". Just 500! For a nation of 36 states + FCT and 200+ million citizens.
▪︎ Then it (the government) said petrol will sell at the landing cost.
NNPCL has no single functional refinery.
▪︎ Then it said the 30-day N50 "discount" is not subsidy.
You can ask (like Atiku did), what happens after the 30 days?
Aside from that, so, the NNPCL is no longer an independent limited liability company - as they have always told us - in a bid to shut us up?
NNPCL has suddenly become a father christmas that will not only cut its profit but possibly forgo all its profit. Because, what happens when the landing cost of PMS rises far above the capped price of N1,350 authocratically and arbitrarily fixed by the Tinubu government? As the price of crude keeps jumping up. Your guess is as good as mine - "energy security expense", "undercovery", etc. In simple English - subsidy.
In one fell swoop, the Tinubu administration has belied all it has sold to Nigerians for 3 years and 8 months. I hope Nigerians are taking note.
For all the master strategist claim of President Tinubu, all he could come up with is capping (fixing) the price of imported petrol which he has no control over - essentially subsidising importation - which is what we had and decried in the past.
Contrast that with Atiku’s cappped subsidy at the production end, where we have at least some leverage, and which would benefit domestic refineries, and all Nigerians - not foreign refiners and importers - and judge for yourself who is truly ignorant in governance.
Finally, Atiku said something in his speech yesterday which probably many people did not pay proper attention to. He said, "these people are not patriotic". Indeed, it takes a healthy degree of genuine patriotism to think about the nation and the welfare of its citizens. Patriotism determines whether the loyalty of a President and government lie with capitalists, self interest, external interests and the interest of a few already privileged cronies or the interest of the citizenry.
Alas, Nigerians have seen everyone in their true colors. God has exposed everyone for us to see and know. It is now time for us to make the objective, informed and unbiased decision - for our sake, that of our children - born and unborn - and that of our dear nation, Nigeria.
As Vice President Atiku Abubakar rightly said, if we re-elect President Bola Tinubu, we would have ourselves to blame and not God or anyone else.
#HelpIsOnTheWay
#AAToTheRescue
#MakeNigeriaAffordableAgain
#EyesOnTheBall
©️ Uche Diala
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