Education
Agbakoba urges 2027 presidential candidates to declare position on petrol pricing – EnviroNews
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A former President of the Nigerian Bar Association (NBA), Dr. Olisa Agbakoba, has challenged presidential candidates in the 2027 general election to publicly declare their positions on petroleum pricing, warning that rising fuel costs and the escalating cost of living could determine voters’ choices.
Agbakoba made the call in a statement he personally signed in Lagos on Tuesday, October 13, 2026, titled “Statement to the Presidential Candidates on Petroleum Pricing and the Cost of Living.”
He described the rising cost of living as a critical national concern that would undoubtedly become a defining issue in the 2027 general election, insisting that Nigerians deserve clarity on how prospective leaders intend to address the country’s petroleum pricing challenges.
According to him, Nigeria’s decision to remove petrol subsidies in 2023 has fundamentally changed the country’s fuel pricing system, with pump prices now responding to refinery costs and the landing costs of imported petroleum products rather than being fixed by the government.
He said the policy shift had resulted in significant increases in petrol prices, placing additional financial pressure on households and businesses across the country.
“ The effect has been steep. In January, NNPC Ltd. sold petrol at ₦835 per litre in Lagos and ₦839 in Abuja,” Agbakoba stated.
He noted that the regular retail price at NNPC stations in Abuja had risen to ₦1,405 per litre, while filling stations supplied by Dangote Petroleum Refinery and independent marketers were selling petrol at between ₦1,405 and ₦1,409 per litre.
Agbakoba also cited changes in refinery pricing, noting that Dangote Petroleum Refinery raised its gantry price to ₦1,350 per litre on September 12, marking its fourth increase since late August, before reducing the price by ₦25 later that month.
The former NBA president warned that the impact of rising petrol prices extended far beyond the filling station, contributing to higher transportation costs and increases in the prices of food, housing, education and other essential goods and services.
“High fuel prices have created a severe domino effect, driving up the costs of transport, food, rent, education, and basic consumer goods across the board,” he said.
Against this backdrop, Agbakoba urged all presidential aspirants to explain how they would approach petroleum pricing if elected, arguing that the issue should feature prominently in their policy proposals ahead of the election.
He identified four possible policy options for addressing the country’s petrol pricing challenges: total subsidy removal, a return to fuel subsidies, discount pricing and differential pricing.
He called on the candidates to clearly state which of these approaches they would support and explain the implications for consumers, government finances and the wider economy.
A return to subsidies would involve government intervention to reduce the price paid by consumers, while continued subsidy removal would leave prices largely determined by market conditions and the cost of supplying petroleum products.
Discount pricing could provide targeted price reductions, while differential pricing could allow different prices for specific categories of consumers or circumstances, depending on how such a policy was designed.
Agbakoba’s intervention places petroleum pricing and the broader cost-of-living crisis at the centre of the emerging debate over economic policy ahead of the 2027 elections.
With petrol prices influencing transportation, food distribution, production and the cost of doing business, the issue is likely to remain a major concern for households and businesses seeking relief from mounting economic pressures.
He maintained that presidential candidates should not leave voters guessing about their plans, urging them to make their positions known so Nigerians can assess their proposals and make informed choices at the polls.
