A former President of the Nigerian Bar Association, Dr Olisa Agbakoba, has urged presidential candidates in the 2027 general election to publicly declare their positions on petroleum pricing, describing fuel costs as a potentially decisive issue for voters.
Agbakoba made the call in a statement he personally signed in Lagos on Tuesday.
The statement, titled *“Statement to the Presidential Candidates on Petroleum Pricing and the Cost of Living,”* said the rising cost of living had reached a critical point and would be a defining issue in the 2027 elections.
Agbakoba noted that the removal of petrol subsidies in 2023 had left pump prices influenced by refinery costs and the landing costs of imported petroleum products rather than fixed government prices.
He said, “Nigeria removed its petrol subsidy in 2023, and pump prices now move with refinery and import landing costs rather than being fixed by the government.
“The effect has been steep. In January, NNPC Ltd. sold petrol at ₦835 per litre in Lagos and ₦839 in Abuja.
“NNPC Retail’s regular price in Abuja is now ₦1,405, while stations backed by the Dangote refinery and independent marketers are selling at ₦1,405 to ₦1,409.
“Dangote Petroleum Refinery raised its gantry price to ₦1,350 per litre on 12 September, its fourth increase since late August, before a ₦25 cut later that month.”
The former NBA president said rising petrol prices had affected several sectors of the economy, worsening the financial burden on households.
“High fuel prices have created a severe domino effect, driving up the costs of transport, food, rent, education, and basic consumer goods across the board.
“Nigerian voters urgently need clarity on where each presidential candidate stands on this vital matter,” he said.
Agbakoba identified four possible approaches to petroleum pricing: total subsidy removal, a return to subsidies, a discount-pricing model and differential pricing.
He urged presidential candidates to clearly explain their preferred approach to fuel pricing ahead of the 2027 election.
(NAN)