Olisa Agbakoba Advocates N400 Petrol Price Proposal

Olisa Agbakoba, a human rights lawyer and former President of the Nigerian Bar Association, proposed a domestic crude price differential that could lower petrol prices to about N400 per litre. He made this proposal at the annual conference organized by the National Association of Energy Correspondents in Lagos.

Agbakoba called for presidential candidates to disclose their positions on petroleum subsidies and domestic crude pricing in light of the upcoming 2027 elections. He emphasized that the high cost of petroleum products is a significant factor in the current cost-of-living crisis in Nigeria.

Agbakoba noted that while President Tinubu stated that subsidies are gone due to past corruption, he did not rule out the possibility of a new price differential. He urged energy journalists to educate Nigerians on the relationship between crude pricing and living costs, advocating for a pricing policy that would ease the burden on households.