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The Iran – Israel- US war, has affected global oil prices. In Nigeria, the pump price of petrol has skyrocketed from about N900 per liter to about N1, 400 or more, depending on the location. Transport fares have spiked, leading to a sharp increase in the prices of goods and services; cost of living.
In this report, some Nigerians suggest what government could do to ameliorate the sufferings of Nigerians caused by the crisis in the Middle East.
Govt should bring in some subsidy in fuel – Prof. John Igoli, lecturer; Makurdi
First and foremost, we cannot run away from subsidies when it comes to supporting public costs or costs that are borne by the ordinary man. When unexpected crisis like this comes, the government should normally move in with a kind of subsidy to cushion the spiking prices or increasing prices.
There’s no gain saying that petrol runs Nigeria’s economy. Once the price of petrol goes up, everything else goes up. It’s a direct relationship between petrol price and the living cost in Nigeria, especially, given the energy situation where businesses depend on electricity or petrol-powered generators; where transportation relies completely on petrol-powered vehicles or diesel trailers and so on. So the government should bring in some subsidy in order to freeze the price or cap the price not to increase.
Then the second thing is a call for more of an internal or in-country refining of petroleum products. We know Dangote has started refinery, but it doesn’t stop other individuals to be encouraged or supported to do so. Government may also revive the refineries so that we have enough product to sustain internal circulation.
Govt should subsidise petrol until US/Israel-Iran war is over – Osaruyi Faith, real estate developer; Abuja
It is certain that the war won’t last forever. I suggest that the government should be sensitive to the plight of the masses and immediately start to subsidise the price of petrol until the war is over and normalcy is returned.
FG should subsidise petrol, transportation – Emmanuel Obe, journalist; Port Harcourt
Government exists, as rightly captured in the Nigerian Constitution, for the welfare and security of the citizenry.
At times like this, when the cost of fuel, a major item on every menu – whether industrial, domestic or office, has suddenly shot up, government should dip its hands into its reserves to provide palliatives, which may come in the form of subsidising petrol, transportation or incomes in the short run. In the long run, government should ensure that Nigeria’s refineries are working and should supply crude oil to them for free or at reduced cost. This protects the local economy from suffering shocks from volatility in the global markets.
Immediate resumption of full operations at Port Harcourt, Warri refineries – Dr. Joseph Obele, energy expert; Port Harcourt
The recent increase in the prices of AGO (diesel) and PMS (petrol) is unlikely to be the last, as further increments are expected in the coming days. This trend is largely driven by the continuous rise in crude oil prices in the international market.
The latest adjustment suggests that petroleum marketers and retail outlet owners are now purchasing PMS at approximately ₦1,250 per litre, while AGO is being bought at about ₦1,750 per litre. It is important to note that the purchase price for marketers directly determines the retail price to the general public. Consequently, the pump price of PMS may range between ₦1,450 and ₦1,700 per litre, depending on location across Nigeria. Similarly, AGO is likely to retail at ₦2,000 per litre and above. This development will undoubtedly worsen the economic hardship faced by Nigerians, as transportation costs and food prices are expected to rise significantly. The ongoing tensions in the Middle East show no immediate signs of resolution.
Ironically, while rising crude oil prices translate into increased revenue for the federal government, they also impose greater financial burdens on citizens. For 2026, Nigeria’s federal budget is based on a crude oil benchmark of $64.85 per barrel. With current prices exceeding this benchmark by an estimated $35 to $40 per barrel, the government is generating significant surplus revenue.
As government earnings increase, Nigerians are simultaneously paying more for petroleum products. Some stakeholders have suggested that this excess revenue should be used as an intervention mechanism to support local refineries, such as the Dangote Refinery, by supplying crude oil at reduced rates, thereby stabilising domestic fuel prices. However, the federal government has maintained its stance against any form of subsidy, including indirect interventions. In my view as a stakeholder and energy expert, the most practical short-term solution is the immediate resumption of full operations at the Port Harcourt and Warri refineries. This would introduce healthy competition into the market, which in turn would help moderate prices and provide some relief to Nigerians.
Fuel subsidy should be an immediate relief measure – Jamilu Aliyu Charanchi, Northern group leader; Katsina
This is a moment for bold, people-centred leadership, not rigid economic dogma. The current surge in fuel prices has translated directly into unbearable hardship for ordinary Nigerians, and government must respond with urgency and compassion. There is a clear need to reintroduce a targeted fuel subsidy as an immediate relief measure to cushion the shock.
At the same time, broader economic policies must be recalibrated to prioritise the welfare of citizens, ensuring that reforms do not deepen poverty or widen inequality. Government must also move swiftly to stabilise the economy, strengthen local refining capacity, and provide practical support systems that ease the cost of living. Ultimately, governance must reflect the realities of the people because policies that bring pain without protection cannot be justified.
Govt must urgently design temporary, targeted fuel subsidy -Rev. Emmanuel Olorunmagba, chieftain of NRM; Kaduna
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The escalating tensions and outright confrontation involving Iran, Israel, and the United States have once again reminded us of a painful truth – in an interconnected world, distant wars quickly become domestic crises. For oil-dependent economies like Nigeria, the shockwaves are immediate and brutal. Today, Nigerians are living that reality. Within a short span, the pump price of petrol has surged from about ₦950 per litre to ₦1,400 and beyond in many parts of the country and we still don’t know where the price is going if urgent steps are not taken to mitigate the effect of the war on Nigeria.
Nigeria is an oil-producing nation, yet Nigerians are paying among the highest prices for petrol in the region. Government should introduce targeted fuel price stabilisation measures. It must urgently design temporary, targeted subsidy or price stabilisation mechanism to cushion the current spike. This does not mean a return to the old, wasteful subsidy regime, but a smart, transparent intervention focused on protecting the most vulnerable.
Govt should subsidise transportation for farm produce, foodstuff – Leftist Omobude Agho, activist; Benin
In the face of the global economic crisis and the excruciating cost of living in Nigeria caused by the unnecessary war by the USA, Israel versus Iran, I suggest that the government should subsidise transportation for farm produce and foodstuff, reduce working days for civil servants in a shift pattern, to help cut transportation costs. More so, the federal government should ensure free transportation for students with identity, slash medicare at all public medical outfits by 50 per cent and also ensure bursary awarded to students of all public tertiary institutions in Nigeria.
Govt should provide crude to Dangote, other modular refineries – Shedrach Udugbai, politician; Benin
The challenge before us is needless. How can what’s happening in one country far away in the Middle East throw Nigerians into poverty and pains? This Nigerian government is purely irresponsible.
They’ve failed in their primary responsibilities of offering welfare to the people. The crude oil which is the bane of the crisis is abundantly present in Nigeria, but what they are not telling us is that, as the cost of crude oil increases in the global market due to this ongoing war, Nigeria is now making huge money, selling its crude at exorbitant prices.
FAC is swelling like python, but unfortunately, the masses are shrinking like patients with HIV.
There is no plan for a buffer by the government. Their only plan is to profit from it, while offering excuses; after all, there’s a suitable explanation to tender.
Their hopeless agenda has taken precedence; it is a bold attempt to keep the people poorer while making the government richer and blaming it on another country. Tell me one thing in this country that has improved because, something positive is happening elsewhere. This ought not to affect Nigerians, but our government is greedy.
However, I will advise the federal government to provide crude to Dangote refinery and other modular refineries in Nigeria at the old price, so that Nigerians can continue to enjoy fuel at the old price.
FG should supply crude to Dangote refinery at low prices – Emmanuel Chinemerem, student; Aba
It is unbelievable that the crisis in the Middle East should be affecting us negatively in Nigeria in terms of hike in pump price of fuel with its attendant ripple effects on the nation’s economy. It is highly unfortunate that Nigeria, an oil producing country will suffer what non oil producing countries are suffering.
To ameliorate the problem, the federal government should ensure adequate supply of crude to the Dangote refinery since it is only one standing, at the pre-Middle East crisis price, so as to bring the fuel pump price down to what it used to be before the crisis.
Govt should supply crude to Dangote at the old price -Stanley Mba, journalist; Umuahia
The current hike in fuel pump price in Nigeria as a result of the crisis in the Middle East is unacceptable. The crisis in the Middle East isn’t supposed to affect us negatively since Nigeria is an oil producing country.
The report we are getting that Dangote refinery imports crude from abroad, if it is true, it should be discouraged because there should be no basis for that. Instead, the federal government through the NNPC Plc should be supplying crude to Dangote refinery at the price before Gulf crisis to make the price of fuel come down in the country.
Govt should subsidise transport fares – Kene Kenneth, media practitioner; Makurdi
The government should act swiftly to cushion the impact of rising fuel prices on citizens. One approach is to provide targeted subsidies or palliative measures to vulnerable populations, like low-income earners and small businesses. This could include direct cash transfers, reduced tariffs on essential goods, or subsidised transport fares. The government could also leverage its strategic reserves to stabilise fuel supply and prices.
Another way is for Nigeria to accelerate efforts to diversify its economy, investing in renewable energy, and boost local refining capacity. In the short term, encouraging alternative energy sources like Compressed Natural Gas (CNG) and promoting energy efficiency could also help ease pressure on fuel demand.
