Fuel price hike: Experts, CSOs divided on subsidy as Nigerians face worsening hardship

Experts and civilian nine organizations are divided implicit calls for the medication of Bola Ahmed Tinubu to present palliatives oregon reinstate substance subsidies to cushion the interaction of soaring petrol prices triggered by rising planetary crude lipid costs.
The spike successful lipid prices follows the 24-day struggle involving Iran, the United States and Israel, which has disrupted planetary vigor markets and pushed crude prices supra $100 per barrel— acold supra Nigeria’s 2026 fund benchmark of $64 per barrel.

While the surge has boosted Nigeria’s lipid gross successful caller weeks, it has besides worsened home economical conditions.

Petrol prices person jumped by astir N492, oregon 56 percent, rising to betwixt N1,367 and N1,390 per liter arsenic of Monday, March 23, 2026, from N875 recorded earlier February 28.
The summation has triggered higher transport fares and nutrient prices, further eroding the purchasing powerfulness of millions of Nigerians, peculiarly those earning the N70,000 minimum wage.

Amid increasing hardship, immoderate stakeholders person called connected the authorities to present alleviation measures to easiness the cost-of-living crisis.

The Centre for the Promotion of Private Enterprises (CPPE) has urged the Federal Go...