Fuel price hike: FENRAD laments rising inflation, impact on vulnerable Nigerians

Nkem Ukaegbu, Umuahia

Rising fuel prices have continued to fuel inflation across Nigeria, with the Foundation for Environmental Rights Advocacy and Development (FENRAD) lamenting the growing burden on vulnerable populations already grappling with the high cost of living.

In a statement signed by the Executive Director of the organization, Comrade Nelson Nnanna Nwafor, they described the rising cost of fuel as a major driver of the current inflationary trend, noting that it has triggered a ripple effect across critical sectors of the economy.

According to FENRAD, the continuous hike in fuel prices has significantly increased transportation costs, which in turn has led to a sharp rise in the prices of essential goods and services.

The group lamented that the development has further eroded the purchasing power of ordinary Nigerians, particularly affecting women, children, low-income earners, and rural dwellers who are already struggling to meet basic needs.

FENRAD stressed that the widening inequality gap remains a major concern, as those at the lower end of the economic ladder continue to bear the brunt of the ongoing economic challenges.

It warned that without immediate and targeted interventions, the country risks sliding into a more severe humanitarian and socio-economic crisis.

The organization therefore, called on the Federal Government to take urgent and decisive steps to address the situation and alleviate the suffering of citizens.

Among its key recommendations, FENRAD urged the government to implement immediate measures aimed at stabilizing fuel prices and curbing the rising inflation affecting basic commodities.

It also called for the swift rollout of effective mitigation strategies following the removal of fuel subsidy, ensuring that relief measures reach the most vulnerable segments of society.

FENRAD further advocated for the introduction of targeted social protection programmes, including transportation subsidies, food support initiatives, and direct cash transfers to cushion the impact of the economic downturn on poor households.

The group also emphasized the need for transparency and accountability in the management of funds saved from subsidy removal, noting that prudent use of such resources would help rebuild public trust and promote equitable development.

Reiterating its position, FENRAD maintained that economic reforms must be people-centered, inclusive, and responsive to both environmental and social realities.

It called on government agencies, civil society organizations, and development partners to work collaboratively in designing sustainable solutions that prioritize the welfare of citizens.

FENRAD reaffirmed its commitment to promoting environmental justice, economic fairness, and accountable governance, pledging to continue monitoring developments while amplifying the voices of communities most affected by the current economic challenges.