Fuel Price Surge: Economists Demand Cash Aid for Nigeria's Most Vulnerable

At the 19th Nigerian Association for Energy Economics conference in Lagos, experts warn that rising global oil tensions have pushed fuel costs higher. Professor Adeola Adenikinju highlights a “two-edged sword” for Nigeria: more revenue but deeper hardship for low-income households. He calls for targeted cash transfers but notes the lack of a reliable database to identify those in need. Adenikinju cautions that recent civil service allowances will help only a fraction of Nigerians. He urges federal and state collaboration on wider relief and long-term structural reforms to strengthen social protection against external shocks. Conference president Hassan Mahmud says participants will explore how renewable technologies, storage solutions, and digital systems can secure Africa’s energy future. Delegates will visit the Dangote refinery and draft actionable policy recommendations. Former association president Yinka Omorogbe stresses boosting Nigeria’s downstream sector to create jobs and reduce import dependence. She argues that functional local refining is key to stabilising energy costs and supporting economic growth.

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