Rotimi Amaechi, the African Democratic Congress (ADC) vice presidential candidate, has explained how an Atiku Abubakar administration would lower fuel costs through a domestic crude pricing model. Speaking at a townhall meeting in Edo State on Thursday, October 8, 2026, Amaechi said the government would not directly fund any subsidy, but would instead fix a lower price for crude oil sold within Nigeria compared to the international market rate.
Amaechi's Domestic Crude Pricing Mechanism
The former Rivers State governor outlined the mechanics using a practical example: if crude oil fetches N15,000 per unit internationally, Nigerian refineries would buy it at N10,000. The N5,000 difference would then be recovered as a production subsidy paid directly by the refinery owner, not the government.
"The price at which I sell crude on the international market will be different from the Nigerian market. We will do domestic pricing," Amaechi said. "I will then sit with Dangote and tell him to give me a subsidy of N5,000. Once that happens, the price of fuel will come down." He added that only refinery owners in Nigeria would qualify under the arrangement, effectively excluding importers of refined petroleum products from the scheme.
Social Media Reactions to the Proposal
The proposal generated significant debate on social media, with several Nigerians questioning its practicality. @NigIsland wrote: "Amaechi is simply repackaging subsidies under a different name. Selling crude below market value means Nigeria loses revenue. That's a subsidy, whether the government pays cash or not."
@akolawole11 raised concerns about cross-border trade, saying: "And smuggling will be massive to Cameroon and other neighbouring countries. We that the subsidy is meant for will not see fuel to buy in Nigeria." @jack_kevin26810 questioned enforcement, asking: "So after that how will Dangote sell his products to other guys apart from NNPC(Nigeria)? Who will monitor the borders to stop smuggling? Army right, the same ones fighting terrorists also?"
Criticism and Qualified Support
@Gbenganesty was more direct in his criticism: "This a true definition of voodoo economy and no one sane person is buying this bull. You see it on the faces of his audience. How will he subsidize the ones imported?" @godsbeloved935 questioned the scope of the plan: "These people don't rate Nigerians at all. So, how many refineries does Nigeria have that they will subsidies production? Or, it's Dangote refinery?"
@richy_os pointed to a gap in the proposal: "Nobody is asking him about @NMDPRA_Official licensed importers of refined product. What happens to them and their installations?" Not all responses were dismissive. @IamEddy92 offered qualified support: "Now this is a plan, however faint it is, you can work with this and try to expand its structure. Nothing like I will remove the corruption from subsidy wey that Olodo Obi dey talk. Tell us your plan, let's see if it's workable or can be improved. Well done Ameachi."
Related Government Fuel Price Announcement
Meanwhile, Legit.ng also reported that the Federal Government announced a petrol price discount at NNPC filling stations, with priority given to public transporters. Finance Minister Taiwo Oyedele made the disclosure at a press conference in Abuja on Thursday, and also said the government would negotiate a landing cost for petrol that will be reviewed every month.
