{"id":1872,"date":"2026-10-27T16:33:11","date_gmt":"2026-10-27T16:33:11","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/27\/adc-explains-atikus-crude-subsidy-plan\/"},"modified":"2026-10-27T16:33:11","modified_gmt":"2026-10-27T16:33:11","slug":"adc-explains-atikus-crude-subsidy-plan","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/10\/27\/adc-explains-atikus-crude-subsidy-plan\/","title":{"rendered":"ADC explains Atiku\u2019s crude subsidy plan"},"content":{"rendered":"
\"ADC<\/p>\n

By Juliet Umeh<\/p>\n

The African Democratic Congress, ADC, Presidential Campaign Council says its candidate, Atiku Abubakar, would allocate a portion of Nigeria\u2019s crude oil to domestic refineries at a reduced price, as part of a proposed production subsidy.<\/p>\n

One of the council\u2019s spokespersons, Dr Uche Diala, said the proposal would reduce refineries\u2019 input costs. He said it was different from subsidising imported fuel or giving crude to refiners free of charge.<\/p>\n

\u201cWe are saying that, to the extent that Nigerians need to consume and live, we will sell our share to participating domestic refineries at a reduced cost,\u201d Diala said on Channels Television\u2019s Sunrise Daily.<\/p>\n

\u201cThey will not buy it at the international price, and they will not buy it for free. It is a production subsidy at the production end, not a consumption or import subsidy.\u201d<\/p>\n

Asked how the plan could be sustained, Diala said the government would first need to determine how much crude was available for domestic use after accounting for joint-venture commitments and other obligations.<\/p>\n

\u201cWe need to know what quantity of crude we have, and then it is from there that we start with the joint ventures,\u201d he said, adding that the Petroleum Industry Act provided for domestic crude supply.<\/p>\n

Diala said the proposal would also require reviewing existing arrangements, including forward-sale agreements, and increasing production. He cited a 2026 budget benchmark of 1.8 million barrels per day, saying Nigeria could raise output to help sustain the plan.<\/p>\n

\u201cWe are doing about 1.6 million barrels a day. If we are serious-minded, we can scale up our production, and that would help to sustain the production subsidy,\u201d he said.<\/p>\n

Diala also rejected allegations that ADC staff had gone unpaid for months, describing the claim by the All Progressives Congress as fabricated.<\/p>\n

\u201cOur party workers are fine. They are getting their remuneration,\u201d he said. He added that the party could provide payroll records if journalists requested them, but said the APC had no moral basis to demand the information.<\/p>\n

On the 2027 election, Diala said Atiku would accept defeat if he lost \u201cfair and square,\u201d but expressed confidence that the ADC candidate would win.<\/p>\n

\u201cHe is a democrat. I can assure you that Atiku Abubakar is going to win the election by the grace of God and the support of Nigerians.\u201d<\/p>\n

The post ADC explains Atiku\u2019s crude subsidy plan<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

By Juliet Umeh The African Democratic Congress, ADC, Presidential Campaign Council says its candidate, Atiku Abubakar, would allocate a portion of Nigeria\u2019s crude oil to domestic refineries at a reduced… <\/p>\n","protected":false},"author":1,"featured_media":1873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/1872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=1872"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/1872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/1873"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=1872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=1872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=1872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}