‘Tinubu practising Robin Hood economics, robbing poor to subsidise rich people’ – Atiku

The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, on Sunday accused President Bola Tinubu of practising Robin Hood economics.

Atiku said Tinubu is robbing the poor to subsidise the rich and powerful.

The former vice president, who spoke through his Senior Special Assistant on Public Communication, Phrank Shaibu, made the remark while reacting to a columnist @Waziriadio.

@Waziriadio, in his latest column on ThisDay, discussed what makes the removal of petrol subsidy still an unsettled issue in Nigeria and why Atiku’s plan to restore the subsidy is deeply problematic.

Responding, Shaibu insisted that Tinubu changed the beneficiaries of fuel subsidy, stressing that he did not abolish it.

Shaibu noted that Atiku is not returning Nigeria to open-ended subsidy on imported petrol; “his proposal is a targeted, capped, budgeted and independently audited production support that follows the barrel refined in Nigeria, guarantees consumer price relief and carries a sunset clause.”

Posting on X, Shaibu wrote: “My dear big brother @Waziriadio, the problem with your argument is that it attacks a policy @atiku did not propose.

“@atiku is not returning Nigeria to the open-ended subsidy on imported petrol. His proposal is a targeted, capped, budgeted and independently audited production support that follows the barrel refined in Nigeria, guarantees consumer price relief and carries a sunset clause.

“By the way, @officialABAT did not abolish subsidy; he merely changed its beneficiaries. He took it from the petrol tanks of struggling Nigerians and repackaged it as waivers and incentives for his big oil friends.

“It is Robin Hood economics in reverse: robbing the poor to subsidise the rich and powerful.

“You may disagree with the @atiku model. But first, argue against what the model actually proposed.

“Otherwise, we are conducting an elaborate funeral for a corpse nobody brought to the burial.”

Since last week, Atiku’s camp and President Tinubu have been at loggerheads over the issue of petrol subsidy removal.

Atiku had stirred the hornets’ nest when he vowed to return the fuel subsidy regime if elected president of Nigeria in 2027.

During his inauguration at the Eagles’ Square in Abuja in 2023, Tinubu had declared an end to the fuel subsidy regime.