The Allied People’s Movement (APM), Lagos State, has expressed concern over the Federal Government’s latest announcement that the Nigerian National Petroleum Company Limited (NNPC) will forgo its retail profit margin and sell petrol at cost for the next 30 days, describing the measure as a temporary response to a deeper economic challenge that requires more sustainable solutions.
While the APM acknowledges the importance of measures aimed at easing the burden of rising fuel prices on Nigerian households, the party maintains that Nigerians deserve a lasting solution to the persistent increase in the cost of petrol and its devastating implications for transportation, food prices, small businesses, and the general cost of living.
The announcement by the Presidency, through the Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, raises an important question: if NNPC can voluntarily forgo its retail profit margin to provide temporary relief to Nigerians, what more can the Federal Government do to ensure that the benefits of Nigeria’s crude oil resources translate into affordable energy and improved living conditions for its citizens?
The APM wishes to reiterate that its presidential candidate has consistently maintained that petrol prices in Nigeria should not be as high as Nigerians are currently being made to pay, particularly given the country’s status as a major crude oil producer.
This position reflects the party’s longstanding concern about the relationship between domestic petroleum pricing, the management of Nigeria’s natural resources, the cost of living, and the welfare of ordinary citizens.
For millions of Nigerians, fuel is not merely a commodity purchased at filling stations. It is a major determinant of transportation costs, the price of food, the survival of small businesses, and the ability of families to meet their daily needs.
When petrol prices rise sharply, the effects spread throughout the economy. Commercial transport operators increase fares, traders pass higher logistics costs to consumers, manufacturers face rising operating expenses, and households are forced to spend more on basic necessities.
Consequently, any serious policy discussion about fuel pricing must go beyond temporary interventions and address the broader economic consequences of persistently high energy costs.
The APM also notes that the concerns raised by Oyo State Governor, Seyi Makinde, regarding fuel prices and their implications for Nigerians reinforce the need for a more comprehensive national conversation about the consequences of current petroleum pricing arrangements.
Governor Makinde’s position and the APM presidential candidate’s longstanding concerns point to a central question that the Federal Government must address: how can Nigeria ensure that petroleum pricing reflects economic realities without imposing an unbearable burden on citizens and businesses?
The APM believes that the concerns of Nigerians over fuel prices should not be dismissed as opposition politics. They are legitimate economic concerns that deserve serious policy consideration, irrespective of political affiliation.
The objective should be to establish a petroleum pricing framework that protects consumers from unnecessary volatility, promotes transparency, supports domestic production, and ensures that the gains from economic reforms are felt by ordinary Nigerians.
The Federal Government’s decision to encourage NNPC Retail to forgo its profit margin for 30 days may provide temporary relief, but it does not, by itself, resolve the underlying problem of fuel affordability.
The government must explain what happens when the 30-day period expires. Will Nigerians return to the same price pressures, or will the intervention lead to a clearly defined and sustainable framework for managing the impact of global petroleum market fluctuations?
Similarly, the proposed N1,350-per-litre ceiling on petrol’s ex-gantry or landing cost, as announced by the Finance Minister, requires transparent implementation details. Nigerians deserve clarity on how the arrangement will operate, who will bear the immediate financial burden when costs exceed the ceiling, and how any deferred recovery will affect future prices.
The Federal Government must also publish clear implementation guidelines for the proposed strategic fuel reserve, expanded compressed natural gas (CNG) programme, targeted financial assistance, and measures to address excessive levies and logistics costs.
Announcements alone cannot ease the suffering of Nigerians. What matters is whether these policies produce measurable improvements in household welfare and reduce the cost of doing business.
The APM recognises that global crude oil prices, exchange-rate movements, refining costs, and other market factors can influence domestic petroleum prices. However, these realities make it even more important for the government to develop a transparent, predictable, and sustainable energy policy.
The government should prioritise greater domestic refining efficiency, transparent petroleum pricing, reduced distribution bottlenecks, stronger competition, and practical alternatives that can reduce the cost of transportation and production.
Where temporary support is introduced, its beneficiaries, duration, funding arrangements, and expected outcomes should be clearly stated and independently verifiable.
The party also urges the government to ensure that any support intended for vulnerable households reaches them directly and does not become another administrative programme whose benefits fail to reach the intended recipients.
The APM maintains that the ultimate measure of economic reform is not the number of policy announcements made by the government, but the extent to which those policies improve the lives of citizens.
Nigerians should not have to endure an endless cycle of rising fuel prices followed by short-term interventions that offer relief only for the pressure to return.
The party therefore calls on the Federal Government to present a comprehensive and transparent plan for addressing fuel affordability, reducing transportation and logistics costs, and protecting low-income households from recurring energy-price shocks.
The APM’s position remains that the welfare of Nigerians must be central to every economic decision. The country’s energy policies should support productivity, encourage enterprise, protect vulnerable households, and create conditions in which citizens can live and work with dignity.
The concerns consistently expressed by the APM presidential candidate, alongside the concerns raised by Governor Seyi Makinde, deserve serious engagement in the national debate over fuel pricing and economic policy.
Nigeria needs solutions that go beyond temporary concessions. Nigerians deserve an economy in which access to energy does not continually undermine their livelihoods and purchasing power.
Signed:
Ayodele Kazeem Olalekan
State Publicity Secretary
Allied People’s Movement (APM), Lagos State
