A former president of the Nigerian Bar Association (NBA) Dr Olisa Agbakoba has demanded that 2027 presidential candidates should publicly state their stance on petroleum pricing.
Agbakoba made this known in a statement he personally signed on Tuesday in Lagos.
The former NBA president described fuel costs as a likely deciding issue for voters.
The News Agency of Nigeria (NAN) reports that the statement is titled: “Statement to the Presidential Candidates on Petroleum Pricing and the Cost of Living.
Agbakoba stated that the skyrocketing cost of living in Nigeria has reached a critical point and would undoubtedly serve as a defining issue in the 2027 general election.
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.”
Agbakoba pointed out that high pump prices were feeding through the economy.
“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.
He identified four possible fuel policy scenarios.
Agbakoba said these included total subsidy removal, a return to subsidies, a discount pricing approach and differential pricing, urging the candidates to make their stance known. (NAN)
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