Economists advocate cash transfers for vulnerable Nigerians amid rising fuel prices
via Punch Nigeria4 min read
Energy economists are calling for targeted cash transfers to help vulnerable Nigerians cope with increasing fuel prices, a situation exacerbated by global oil market instability. This recommendation comes ahead of the 19th annual international conference of the Nigerian Association for Energy Economics, scheduled for April 26-29, 2026, in Lagos. Professor Adeola Adenikinju, a former president of the association, highlighted that while higher oil prices could boost Nigeria's revenue, they also lead to increased transportation costs and inflation, disproportionately affecting low-income households. He stressed the need for direct intervention but noted the challenge of lacking a reliable database of vulnerable Nigerians. Adenikinju also pointed out that recent allowance increases for civil servants would not benefit many Nigerians in the private and informal sectors, urging federal and state governments to collaborate on broader support mechanisms. Beyond immediate relief, he emphasized structural reforms to strengthen social protection systems. The conference, themed 'Evolution of Energy Mix in Africa: The Role of Technology, Economics and Public Policy', will gather policymakers, regulators, industry leaders, investors, academics, and development partners. Hassan Mahmud, the association's president, stated that the event will address balancing energy security, affordability, and sustainability in Africa, focusing on how emerging technologies, economic frameworks, and public p
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