Rising fuel prices Nigeria solutions proposed as experts and NLC urge government action to ease inflation and hardship

Energy and economic experts, alongside labour leaders, on Sunday called on the Federal Government of Nigeria in Abuja to adopt urgent measures to address rising fuel costs, warning that the situation is deepening hardship and fuelling inflation across the country.

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The stakeholders, including the Nigeria Labour Congress, proposed a range of rising fuel prices Nigeria solutions, with a strong emphasis on controlled crude oil pricing for domestic refineries and broader reforms across the petroleum value chain.

Group Managing Director of Bristol Investments Limited, Chijioke Ekechukwu, said Nigeria could shield its domestic market from global volatility by ensuring crude supplied to local refineries is sold at regulated prices rather than international rates.

“If this is done, petroleum product prices can remain relatively stable in Nigeria,” he said, while also advocating stronger border controls to curb smuggling.

Professor of Economics and Public Policy at the University of Uyo, Akpan Ekpo, urged the government to combine short-term and long-term strategies, including food imports to ease immediate pressure and sustained investment in agriculture to boost domestic production.

Development expert Aliyu Ilias criticised Nigeria’s underdeveloped refining capacity and slow adoption of alternative energy, describing the situation as avoidable.

“I think CNG would have solved the problem if efficiently implemented,” he said, calling for improved regulatory oversight by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to check arbitrary price increases.

Labour leaders also raised concerns over the human impact of rising fuel costs. President of the Nigeria Labour Congress, Joe Ajaero, described petrol prices ranging between N1,170 and N1,400 per litre as a severe burden on workers.

He called for immediate interventions, including wage awards, cost of living allowances, tax reliefs and accelerated rehabilitation of public refineries in Port Harcourt, Warri and Kaduna.

“The costs of PMS and AGO have made transportation a noose around workers’ necks,” Ajaero said, warning that worsening living conditions could destabilise the economy.

Industry stakeholders pointed to structural issues driving fuel prices, including exchange rate volatility, logistics inefficiencies and supply constraints.

Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, stressed the need for strategic crude allocation to local refineries and improved downstream logistics.

President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, called for the full restoration of operations at state-owned refineries to boost supply and reduce market pressure.

Similarly, Director General of the Lagos Chamber of Commerce and Industry, Chinyere Almona, warned that surging global crude prices and rising domestic refining costs were pushing petrol prices toward N1,500 per litre, with ripple effects across transport, food and industry.

She advocated a rules-based pricing framework, improved foreign exchange liquidity and enforcement of domestic crude supply obligations to stabilise the market.

Manufacturers also expressed concern. President of the Manufacturers Association of Nigeria, Francis Meshioye, said rising energy costs were increasing production expenses and weakening consumer demand, raising the risk of job losses.

Small business operators echoed similar fears. Lagos NASSI Chairman Gertrude Akhimien described the situation as a multidimensional crisis affecting both enterprises and households, urging targeted subsidies, tax reliefs and improved electricity supply.

Experts also highlighted the importance of alternative energy adoption, including compressed natural gas and liquefied petroleum gas, as well as digital monitoring systems to curb smuggling and improve distribution efficiency.

Despite differing approaches, stakeholders agreed that sustainable relief would depend on coordinated structural reforms, including expanding domestic refining capacity, stabilising the naira and enhancing transparency across the petroleum supply chain.

Also read: Dangote Refinery Petrol Price Cut Boosts Market Outlook

The proposed rising fuel prices Nigeria solutions reflect growing urgency for decisive government action to stabilise the economy and ease the burden on millions of Nigerians grappling with escalating living costs.