President Bola Tinubu and the All Progressives Congress have hit back at former Vice President Atiku Abubakar over his suggestion that the fuel subsidy regime should be restored, describing the 2023 removal as a difficult decision that stopped a fatal haemorrhage of public money.

The exchange is an early marker of how the 2027 campaign is likely to be fought. Subsidy removal remains the single most consequential thing the administration has done, and the single thing it is most often attacked over.

Government spokesmen argued that money once swallowed by subsidy payments has been redirected into productive sectors, and pointed to a set of indicators that have moved in the administration's direction over the past year.

The case the government is making

Gross external reserves stood at about 52.7 billion dollars by August, according to figures cited by the party. The economy grew 4.43 per cent in the second quarter, and headline inflation had eased to roughly 15.4 per cent from a 2024 peak above 34 per cent.

The naira has also had a strong run, trading near N1,315 to the dollar at the official window — its firmest level in two years.

The case against

Atiku's argument is the one heard at most Nigerian bus stops: that whatever the macro numbers say, transport, food and electricity costs rose faster than incomes, and that the promised cushioning arrived late and thin.

Neither side disputes that petrol prices multiplied after May 2023. What they disagree on is whether the pain bought anything.

The former Vice President has not set out in detail how a restored subsidy would be funded, which is the question the APC has pressed hardest since he raised it.

Reporting by Vanguard. This summary was written by the TalkNaijaMedia desk.