The African Democratic Congress (ADC) vice-presidential candidate, Rotimi Amaechi, has promised to introduce a new form of fuel subsidy if the opposition party wins the 2027 presidential election, while criticising President Bola Tinubu’s administration over its economic policies.
Amaechi made the remarks on Thursday during a town hall meeting in Edo State, where he urged residents to reject Tinubu’s re-election bid and support the ADC in the forthcoming poll.
The former Minister of Transportation also launched a verbal attack on supporters of the president, declaring that only “mad people” would vote for Tinubu in 2027.
According to Amaechi, Nigerians dissatisfied with the current administration should participate in the electoral process and vote for an alternative government rather than stay away from the country.
He also questioned the Federal Government’s plan to construct another seaport in Ogun State, arguing that the project raised concerns about its economic justification and the interests behind its proposed construction.
Amaechi asked whether the volume of goods produced in Ogun State was sufficient to warrant additional seaport infrastructure, alleging that the decision could be driven by financial interests rather than the broader economic needs of Nigerians.
On fuel pricing, the ADC candidate said his party would adopt what he described as a production subsidy model instead of the previous arrangement, which he argued benefited wealthy individuals and fuel importers.
Under the proposed plan, Amaechi said crude oil would be sold to domestic refineries at a lower price than the international market rate, with the price difference serving as the basis for reducing the cost of locally refined petrol.
He cited a hypothetical example in which crude oil sold internationally for N15,000 would be supplied to local refiners, including the Dangote Refinery and modular refineries, at N10,000.
The resulting N5,000 difference, he explained, would form the basis of the proposed production subsidy, which he believes would help reduce petrol prices without requiring direct government expenditure on the subsidy.
Amaechi argued that lower fuel prices would ease transportation costs and ultimately reduce the prices of goods and services across the country.
He maintained that the proposed approach would support domestic refining, encourage local production and provide economic relief to Nigerians struggling with rising living costs.
