Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, alongside the Alliance on Surviving COVID-19 and Beyond (ASCAB), has urged the Federal Government to reduce the pump price of petrol, arguing that Nigerians should not continue to suffer from high fuel costs despite the country’s crude oil production capacity.
In a statement issued on Sunday, ASCAB said rising global crude oil prices, driven partly by disruptions along the Strait of Hormuz amid tensions involving the United States and Iran, highlighted the need for Nigeria to reassess its fuel pricing framework.
The group argued that Nigeria should leverage its domestic crude resources and refining capacity to shield citizens from international price shocks.
ASCAB referenced comments by petroleum expert Prof. Izielen Agbon, who reportedly questioned why Nigerians should pay more for Premium Motor Spirit (PMS) than consumers in major oil-producing regions abroad.
The organisation also pointed to measures taken by G7 nations and other governments to cushion citizens from energy price increases, insisting that Nigeria should adopt similar consumer-focused interventions.
According to ASCAB, directing crude allocated for domestic refining toward local refineries and ensuring affordable pricing of refined products would provide immediate relief to households and businesses.
The group maintained that reducing petrol prices would lessen the economic burden on citizens while strengthening energy security.
