Agbakoba Calls for Clarity on Fuel Pricing from 2027 Candidates

Dr Olisa Agbakoba, a former President of the Nigerian Bar Association, urged presidential candidates in the 2027 general election to publicly declare their positions on petroleum pricing. He made this statement in Lagos on Tuesday, emphasizing that fuel costs are a critical issue for voters.

Agbakoba noted that the removal of petrol subsidies in 2023 has led to fluctuating pump prices based on refinery and import costs rather than fixed government prices. He provided specific figures, stating that in January, NNPC Ltd. sold petrol at ₦835 per litre in Lagos and ₦839 in Abuja, while current prices are ₦1,405 in Abuja and ₦1,405 to ₦1,409 at other stations.

Agbakoba highlighted the severe economic impact of rising petrol prices, which have increased costs across various sectors, affecting households significantly. He identified four potential approaches to petroleum pricing: total subsidy removal, a return to subsidies, a discount-pricing model, and differential pricing, urging candidates to clarify their preferred approach ahead of the elections.