The publicity secretary of the Crude Oil Refinery-owners Association of Nigeria, CORAN, Eche Idoko, has explained that the Federal Government can help reduce rising fuel prices by addressing problems across the entire petroleum sector.
In a statement released on Wednesday, Idoko said petrol prices in Nigeria are not shaped by refining alone. He said broader economic and structural issues also play a major role, especially at a time when global crude oil prices remain unstable.
According to him, three major factors are currently driving fuel prices in the country. These are the price of crude oil on the international market, pressure on the foreign exchange rate, and the high cost of moving and distributing fuel across Nigeria.
He said that even if local refining improves, petrol prices may still continue to rise unless these deeper problems are tackled.
Idoko said supplying more crude oil to the Dangote Refinery and other local refineries could help ease supply pressure, but added that such a move must be done carefully and properly managed.
He urged the government to fully enforce the Domestic Crude Supply Obligation, DCSO, so that local refineries are given priority access to crude oil before it is exported.
He also called for a fair domestic crude pricing system. According to him, crude sold to Nigerian refineries should not carry the full international export-related charges such as freight and insurance, because removing those extra costs would help reduce refining expenses and lower pump prices.
The CORAN spokesman further advised the government to maintain a stable naira-for-crude arrangement. He said this would help reduce the impact of exchange rate swings on petrol prices. He also called for increased crude oil production to improve supply for both local refining and export.
Idoko said government support should not focus only on the Dangote Refinery. He noted that modular refineries such as Waltersmith Refinery, Aradel Holdings, and Duport Midstream Company also need support to boost competition and improve supply stability.
He added that bringing down logistics costs in the downstream sector would also help reduce the final price paid by consumers. These costs include transportation, port charges, poor road conditions, and multiple levies.
Speaking on whether increased crude allocation to local refineries could help reduce fuel prices, Idoko said yes, but warned that the supply must be regular, fairly priced, and available to all functioning refineries.
He said Nigeria must do more than refine crude locally. According to him, the country must also allocate and price crude in a way that protects domestic energy needs if it wants to achieve lasting fuel price relief.
His remarks come at a time when crude oil prices have dropped below 100 dollars per barrel, leading to calls for the Dangote Refinery to cut its gantry petrol price after several increases in March 2026.
Fuel prices have risen sharply in recent weeks. Since the Iran, United States, and Israel tensions began on February 28, 2026, petrol pump prices in Abuja and nearby areas have reportedly jumped by more than 50 percent, rising to between N1,361 and N1,380 per litre.