CSJ Opposes Nigeria's N1,350 Fuel Price Proposal

The Centre for Social Justice (CSJ) has criticized the Federal Government of Nigeria's proposal to peg fuel prices at N1,350 per litre, stating it does not align with the expectations of Nigerians seeking relief from high fuel costs. Barr. Eze Onyekpere, Lead Director of CSJ, expressed that prior to the America-Israel-Iran war, petrol was approximately N800 per litre, and any relief should aim to revert to that price, with a plan to reduce it further to between N400 and N500 per litre in the medium term.

Onyekpere noted the ongoing debate among stakeholders regarding fuel subsidy removal, which has been justified by claims of corruption. Despite the removal of subsidies, the government continues to borrow significantly and fails to adequately fund the budget.

He pointed out that corruption persists in the sector, including crude oil theft, which undermines the benefits of subsidy removal. CSJ proposes measures to establish a domestic price cap for crude oil and determine local refinery needs to lower fuel prices.