CPPE Urges FG to Introduce Targeted Relief as Petrol Price Rises to N1,430
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Federal Government to urgently introduce socially sensitive measures to cushion households and businesses from the impact of rising petrol prices.
The recommendation was contained in a policy brief issued on Sunday by the Chief Executive Officer of CPPE, Dr. Muda Yusuf, who argued that targeted interventions would be more effective and fiscally sustainable than a return to the universal fuel subsidy regime.
The call follows a recent increase in petrol prices from N1,300 to N1,430 per litre, further raising concerns about the impact of higher energy costs on household purchasing power, transportation and business operating expenses.
According to Yusuf, while the latest increase presents significant challenges for consumers and businesses, reinstating a universal fuel subsidy would risk reversing the gains of recent reforms and place additional pressure on government finances.
He therefore advocated targeted support measures that would protect vulnerable households and businesses without recreating the fiscal burden associated with the former subsidy regime.
The CPPE said such interventions should focus on cushioning the most affected segments of the economy while preserving the broader objectives of petrol subsidy reform and fiscal sustainability.
