Fuel Price Hike: YAI Urges FG to Provide Urgent Relief for Nigerians

The Youth Advancement Initiative (YAI) has appealed to the Federal Government to urgently implement relief measures to cushion the severe hardship caused by the recent sharp increase in the prices of petrol and diesel across the country.

In a statement jointly signed by the National President of YAI, Ogbonnaya C Emmanuel, the National General Secretary, Olawale Atelumotu, and the National Public Relations Officer, Daniel Yusuf, the group expressed concern that the sudden rise in fuel prices has worsened the already difficult economic situation facing millions of Nigerians. According to the group, petrol prices have risen within a week from about ₦830–₦870 per litre to as high as ₦1,400 in some filling stations, while diesel has increased from about ₦1,200 to nearly ₦1,750 per litre. The organisation warned that experts are projecting that petrol could approach ₦2,000 per litre if the current global oil crisis persists. YAI noted that the increase has already triggered a chain reaction across the economy, leading to higher transportation fares, rising food prices, and the shutdown of many small businesses that depend on generators due to unstable electricity supply. The group explained that the situation was largely driven by global factors, particularly rising crude oil prices caused by geopolitical tensions in the Middle East, which have disrupted oil supply routes and pushed crude prices above 95 dollars per barrel. YAI said the Federal Government may not have control over global oil prices but has the responsibility to protect citizens from the full impact of the crisis by strengthening local refining capacity and supporting domestic production. The organisation called on the government to fast-track the rehabilitation of government-owned refineries through strategic partnerships with experienced international operators, noting that past turnaround maintenance programmes had failed to deliver results. It also urged the government to deepen collaboration with the Dangote refinery by increasing the supply of locally produced crude oil to the plant to reduce dependence on imported crude, which is more expensive. According to the group, guaranteeing adequate domestic crude supply to local refineries would help lower production costs and ultimately reduce pump prices for consumers. YAI further stated that the Dangote refinery has played a stabilising role in preventing fuel shortages and should be supported as a strategic national asset. The organisation stressed that while Nigeria cannot control global conflicts affecting oil prices, it can build a more resilient energy sector by fixing local refineries and ensuring efficient domestic fuel production. YAI therefore called on the Federal Government to take decisive action to prevent the current fuel price increase from deepening the cost-of-living crisis in the country.