CPPE Calls for Targeted Relief Amid Rising Petrol Prices

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Federal Government to urgently implement socially sensitive measures to mitigate the effects of rising petrol prices, which recently increased from N1,300 to N1,430. Dr. Muda Yusuf, the Chief Executive Officer of CPPE, stated that targeted interventions would be more effective and fiscally sustainable than reinstating the universal fuel subsidy.

He identified critical areas needing government intervention, including transportation, logistics, electricity supply, food security, healthcare, education, and social protection. Yusuf emphasized that resources from subsidy removal should benefit citizens through improved public services and infrastructure.

He advocated for investments in mass transit, affordable public transport, and energy solutions like Compressed Natural Gas (CNG) and solar energy to reduce reliance on petrol. Additionally, he called for support for vulnerable households and micro, small, and medium-sized enterprises (MSMEs) facing rising costs.

Yusuf urged all government tiers to share responsibility for implementing these interventions and to ensure transparency in managing additional revenues.