Former Vice President Atiku Abubakar has applauded the call by the Independent Petroleum Marketers Association of Nigeria (IPMAN) for government intervention with domestic refiners to reduce petrol prices.
Reacting on Thursday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said IPMAN’s position aligns with the central principle of his proposal to make energy affordable through support for domestic refining.
The statement noted that IPMAN’s intervention is significant because it comes from operators who buy, distribute and sell petroleum products daily and, therefore, have direct experience of the impact of fuel prices on businesses and households.
“IPMAN has come to the right conclusion. The association is now saying that government cannot simply stand aside while petrol prices affect Nigerians and that deliberate support for domestic refining can help bring prices down,” the statement said.
Atiku explained the difference between past import-based subsidy regimes and a production-linked intervention aimed at strengthening local refining capacity.
“My principle is simple: support should follow the barrel. Strengthen Nigerian refining and ensure that the benefit follows that barrel all the way to the Nigerian consumer,” he said.
“Nigeria produces crude oil. It is important to maximise processing at home so that Nigerians can benefit from affordable fuel as part of broader economic reforms.”
Atiku said the proposal would also align with the objectives of the Petroleum Industry Act, including promoting petroleum processing within Nigeria and ensuring access to affordable petroleum products.
“The law itself recognises that local refining and affordability matter. A policy that expands domestic refining capacity while lowering the burden on consumers, therefore, advances the direction of the PIA,” he stated.
He added that the real test of petrol policy is its impact on household income.
Citing the DailyFuels Fuel Affordability Index, he said the index estimates that the average Nigerian requires about 44 minutes of work to afford one litre of petrol, while a 40-litre tank represents about 29.5 hours of work under its methodology.
“A teacher does not experience fuel policy through a government spreadsheet. A trader experiences it when transportation costs rise and customers have less to spend. By the time goods reach the market, higher energy costs have added to the price at each stage,” he said.
According to Atiku, making fuel affordable is a cost-of-living issue because energy costs affect transportation, food, production and distribution.
The former Vice President said IPMAN’s position should be followed by practical collaboration on policy implementation.
“I therefore invite IPMAN to bring its experience, market knowledge and advisory capacity into the monitoring and implementation of this policy from 2027,” he said.
“The people who buy, distribute and sell petroleum products every day know where distortions occur and where good policy can be affected between the refinery gate and the filling station. That knowledge should be put at the service of Nigerians.”
Atiku said his commitment was for any intervention to strengthen domestic refining, expand local capacity, prevent arbitrage, operate transparently and deliver relief at the pump.
He said IPMAN’s position highlights the growing consensus around domestic refining and consumer relief as key elements of petroleum sector policy.
“So, I welcome IPMAN. Let us prepare together for 2027 — marketers, refiners, regulators, consumers and independent monitors — and build a system where support follows the Nigerian barrel and relief follows that support all the way to the filling station,” he said.
“That is the contract we offer Nigerians: local capacity first, transparency first, purchasing power first and affordable energy first.”