Former [Nigerian Bar Association (NBA)](https://nba.org.ng) president [Dr Olisa Agbakoba](https://en.wikipedia.org/wiki/Olisa_Agbakoba), SAN, issued a statement on Tuesday proposing a differential petroleum pricing system that would separate local fuel costs from international crude fluctuations. The scheme aims to set pump prices within a N400‑N700 per litre range and calls on all candidates contesting the [2027 general election](https://inecnigeria.org) to disclose their specific fuel‑price strategies.
**What are the core elements of the proposal?**
- The model applies a cost‑plus‑profit formula, assuming Nigeria consumes roughly 40 million litres of petrol daily, which could generate a domestic price band of N400 to N700 per litre.
- Agbakoba outlined four possible approaches to fuel pricing: complete removal of subsidies, reinstating subsidies, targeted discount pricing, and the differential pricing model he favours.
- He warned that “without a clear framework, voters will be left guessing how rising fuel costs will affect their household budgets,” emphasizing the need for transparent policy commitments.
**How does differential pricing differ from other options?**
Under the proposed system, crude sold for local consumption would be priced independently of the global market, allowing the government to set a reasonable profit margin while covering production and distribution costs. This treats petroleum not merely as an export commodity dictated by world prices but as a strategic national resource that can be managed for public benefit.
In contrast, a full subsidy removal would expose consumers directly to volatile international crude prices and exchange‑rate swings. Re‑introducing subsidies would require substantial fiscal outlays and raise questions about budget transparency. Discount pricing would offer limited relief to selected sectors or vulnerable groups rather than a broad‑based price reduction.
**Why is fuel pricing pivotal for the 2027 election?**
Agbakoba argued that soaring living costs—driven largely by high fuel prices that affect transport, food, rent, and education—have turned petroleum pricing into a decisive electoral issue. He likened its potential impact to historic policy debates such as former UK Prime Minister Margaret Thatcher’s council‑house sales and Conservative leader Kemi Badenoch’s inheritance‑tax proposals. Clear, detailed fuel‑price policies, he insists, will enable voters to evaluate the economic implications of each candidate’s platform and make informed choices at the polls.
**What does the former NBA chief recommend?**
He urges all presidential aspirants to move beyond vague campaign promises and publish concrete petroleum‑pricing frameworks, allowing Nigerians to assess how each proposal would influence household spending and business costs ahead of the 2027 vote.