Economists Urge Cash Support Amid Rising Fuel Prices

Economists have called for cash support to protect poor Nigerians from the adverse effects of rising fuel prices, which have led to increased transportation costs and inflation. This appeal was made on Sunday ahead of the 19th Annual International Conference of the Nigerian Association of Energy Economists, set to take place in Lagos from April 26 to 29, 2026.

Former President of the Association, Professor Adeola Adenikinju, highlighted the dual nature of the current situation, where Nigeria could gain revenue from higher oil prices while simultaneously worsening economic hardships for citizens. The absence of a reliable database for vulnerable populations remains a significant barrier to implementing effective cash transfer programs.

Economists emphasized the need for structural reforms to strengthen social protection systems and improve the country's capacity to respond to external shocks. The conference will also address Africa's energy transition and the role of technology and public policy in attracting investment and supporting industrialization.