Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), has said he would restore the petrol subsidy if elected president in 2027.

Speaking during an interview on Wednesday, Atiku said the government had failed to account for the funds saved from the removal of the subsidy.

“I did not oppose the removal of the oil subsidy, but where is the money? Where did it go? It was intended to reduce poverty and help children attend school. Where is the money now? It seems they are just stealing it,” Atiku said in Hausa.

He added that if elected, he would restore the subsidy and ensure that anyone found to have stolen the funds refunded the money.

Atiku said the removal of the subsidy could have been justified if the savings had been channelled into development projects across the country.

“The government successfully removed the subsidy, but we do not know where the money went. If they had used the money for development, to solve security problems, improve education and create opportunities for the youth, it would be different,” he said.

President Bola Tinubu announced the removal of the petrol subsidy during his inaugural address on May 29, 2023. The policy triggered an immediate increase in the cost of living, with the prices of goods and services rising across the country.

Some state governors have, however, acknowledged that their monthly allocations from the Federation Account Allocation Committee (FAAC) have increased significantly since the subsidy was removed.

On Wednesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the removal of the petrol subsidy had generated N15.8 trillion in resources for the federation between June 2023 and December 2025.

According to Oyedele, the savings were reflected through higher revenue collections, particularly due to the increased naira value of dollar-denominated transactions following the exchange-rate reform.