The continuous rise in fuel prices across Nigeria is becoming increasingly alarming. In many communities, diesel now sells for as high as ₦1,700 per litre, while petrol has climbed to about ₦1,500 per litre in several filling stations. These figures are not just statistics; they represent the growing hardship faced daily by ordinary Nigerians.

The Federal Government has consistently maintained that the deregulation of the petroleum sector will allow market forces to determine prices and ultimately attract investment into the industry. In principle, deregulation can bring efficiency, competition, and transparency. However, the reality on the ground tells a different story for many citizens who are struggling to cope with the relentless rise in energy costs.

Fuel remains the backbone of Nigeria’s economy. It powers transportation, drives small businesses, supports agriculture, and keeps generators running in homes and offices. When petrol and diesel prices skyrocket, the ripple effects are felt everywhere—from higher transport fares to increased food prices and rising costs of goods and services.

What Nigerians are asking for is simple: sincerity and transparency in the deregulation process. If the sector is truly deregulated, the government must clearly communicate how pricing works and ensure that there is no hidden manipulation of the market. Citizens deserve to understand why prices fluctuate and what safeguards are in place to prevent exploitation by marketers.

Furthermore, the government must intensify efforts to ensure that local refineries operate efficiently. The promise of domestic refining was supposed to ease the burden of fuel importation and stabilize prices. Without this, deregulation risks becoming a policy that transfers all the burden to the public while offering little relief.

At a time when Nigerians are battling inflation, unemployment, and rising living costs, energy prices must not become an additional source of suffering without clear justification.

Deregulation should not translate into unregulated hardship. The Federal Government must demonstrate sincerity, provide clear policy direction, and protect citizens from excessive market volatility.

The Nigerian people deserve a fuel policy that works not just for investors and marketers, but also for the millions of citizens whose daily survival depends on affordable energy.