Experts urge cash transfers to help poor cope with rising fuel costs
Energy economists are calling for targeted cash support to help vulnerable Nigerians manage the impact of increasing fuel prices. Professor Adeola Adenikinju and Prof. Yinka Omorogbe stressed the need for direct intervention and structural reforms to protect low-income households. The upcoming 19th annual international conference of the Nigerian Association for Energy Economics in Lagos will bring together stakeholders to discuss energy challenges and solutions. The event will also focus on how technology and policy can drive Africa’s energy transition and economic growth.
What we know
- Professor Adeola Adenikinju highlighted that rising fuel prices are increasing transportation costs and inflation, worsening hardship for low-income Nigerians.
- Economists argue that cash transfers are urgently needed but face challenges due to the lack of a comprehensive database of vulnerable citizens.
- The Nigerian Association for Energy Economics conference will address the impact of global energy shocks and explore strategies for a just energy transition.
- Hassan Mahmud noted that Africa faces pressure to decarbonise despite contributing less than four percent of global carbon emissions.
- Prof. Yinka Omorogbe emphasized the importance of developing Nigeria’s downstream sector and local refining capacity to create jobs and ensure economic stability.
