The Sanity Multi-Efforts Forum (SMEF) has expressed deep concern over the growing hardship faced by Nigerians following the recent increase in fuel prices, urging the Federal Government to take immediate and decisive steps to cushion the impact on citizens.
In a statement issued by the President of the Forum, Prince Dan Olaitan Dada, SMEF acknowledged that global market dynamics and economic realities may have contributed to the current fuel price adjustments. However, the group stressed that urgent domestic policy interventions are necessary to protect Nigerians from the worsening cost-of-living crisis.
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According to the Forum, rising fuel prices continue to have far-reaching consequences across the economy, particularly affecting transportation, food prices, and the general cost of living for millions of households.
To address the situation and ensure sustainable energy stability, SMEF called on the Federal Government to implement key measures that would strengthen Nigeria’s refining capacity and reduce dependence on imported petroleum products.
First, the Forum urged the government to prioritize the rehabilitation of government-owned refineries through credible and transparent strategic partnerships. Reviving these refineries, SMEF noted, would significantly improve local refining capacity and reduce the pressure created by reliance on imports.
Secondly, the Forum emphasized the need for deeper collaboration between the government and the Dangote Refinery to ensure a stable supply of locally sourced crude oil. Strengthening this partnership, SMEF argued, would enhance domestic refining operations and contribute to price stability in the long term.
Furthermore, SMEF advocated for the prioritization of domestic crude oil allocation to local refineries at favorable rates. Such a policy, the Forum explained, would encourage local production, stabilize supply chains, and ultimately help moderate fuel prices for consumers.
The Forum also commended the stabilizing role currently being played by the Dangote Refinery in Nigeria’s petroleum sector, describing it as a critical national asset capable of transforming the country’s energy landscape. SMEF therefore called on the government to adopt policies that will protect and support the refinery’s operations in the national interest.
Prince Dan Olaitan Dada concluded by stressing that transparency, accountability, and strategic planning remain essential in navigating the current energy challenges.
“As Nigeria confronts the realities of global energy dynamics, responsible governance and proactive economic policies are indispensable to safeguarding the welfare of the Nigerian people,” he said.
The Forum reaffirmed its commitment to constructive engagement and policy advocacy aimed at promoting economic stability and social wellbeing across the country.
