Presidential spokesman Bayo Onanuga has criticised the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, over his proposal to restore fuel subsidy if elected president.
Onanuga argued that returning to a subsidised petrol regime could weaken the Nigerian National Petroleum Company Limited (NNPC Ltd), which he said has recorded improved financial and operational performance under the current subsidy-free system.
The presidential aide made the comments while reacting to NNPC Ltd’s 2025 audited financial and operational results.
According to the figures cited by Onanuga, NNPC’s profit after tax increased by 33 per cent from ₦5.4 trillion in 2024 to ₦7.2 trillion in 2025, while its revenue stood at ₦34.5 trillion. The company’s EBITDA also rose by 22 per cent to ₦18 trillion, while earnings per share increased by 32 per cent to ₦35.9.
Onanuga further highlighted the company’s production performance, noting that crude oil and condensate output averaged 1.77 million barrels per day in 2025, described as its highest level in five years.
He also said natural gas production averaged 7.2 billion standard cubic feet per day, marking a three-year high.
“Oil and condensate production totalled 565.8 million barrels, up five per cent, with NNPC Limited’s equity share increasing 11 per cent to 223.7 million barrels,” Onanuga said.
He added that natural gas production rose to 2,606.2 billion standard cubic feet, representing a nine per cent increase, while NNPC Ltd’s equity share climbed by 11 per cent to 1,154.9 billion standard cubic feet.
Turning to the subsidy debate, Onanuga warned that reversing the current policy could have consequences for the national oil company.
“Atiku’s subsidy programme will certainly kill this company, which could be our own Aramco,” he said.
The presidential spokesman added, “Our country has no business taking 100 steps back. Forward ever!”
Atiku has previously proposed restoring the petrol subsidy as part of his policy agenda, a position that has drawn criticism from the Tinubu administration.
