Manjo Urges Tinubu To Consider ₦1,000 Petrol, ₦1,100 Diesel Price Stabilisation Plan

A retired Permanent Secretary in the Kwara State Public Service and academic, Dr. Yusuf Garba Manjo, has urged President Bola Ahmed Tinubu to consider a targeted and temporary petroleum production support programme aimed at cushioning Nigerians from the impact of high energy costs.

Manjo made the proposal in a policy memorandum dated September 17, 2026, addressed to President Tinubu, arguing that government could protect vulnerable households and productive sectors without reversing the structural objectives of the 2023 fuel subsidy reform.

He proposed that the Federal Government work towards indicative affordability benchmarks of about ₦1,000 per litre for petrol and ₦1,100 per litre for diesel, particularly for priority productive and essential users.

However, he stressed that the figures should not be treated as predetermined prices or an unconditional government guarantee, saying they should be subjected to independent costing, market analysis and assessment of the government’s fiscal capacity.

According to him, the proposed intervention should differ fundamentally from the former open-ended fuel subsidy regime by being temporary, production-linked, transparent and subject to strict fiscal controls.

Manjo said government support should be directed primarily at verified domestic refining and efficient petroleum production rather than indiscriminate consumption.

He recommended that eligible refineries and domestic producers should qualify for support only after meeting objective regulatory, technical, financial and operational requirements.

The proposed mechanism would involve establishing an independently assessed efficient-cost benchmark covering crude feedstock, refining yield, energy, transportation, operating expenses and a reasonable production margin.

“Where the verified cost of efficient production exceeds the approved affordability benchmark, government may provide a capped and transparent intervention to an eligible producer, subject to the actual production and sale of the petroleum product,” he stated.

Manjo argued that high petrol and diesel prices have wider implications for transportation, agriculture, manufacturing, construction, telecommunications, logistics, commerce and electricity generation.

He said the effects ultimately translate into higher food prices, transport fares, business operating costs and pressure on household incomes.

The policy expert also warned that prolonged high petroleum prices could intensify inflationary pressures, weaken household consumption, increase business closures and undermine agricultural and industrial productivity.

He therefore called for preventive government action to cushion citizens against exceptional domestic and international petroleum-price pressures while maintaining fiscal discipline.

On funding, Manjo recommended that the programme should not become an unlimited financial burden on the Federal Government.
He proposed clearly identified financing sources, including a defined portion of additional petroleum-related revenue during periods of elevated crude-oil prices, a temporary petroleum-price stabilisation reserve and verified expenditure efficiencies.

He further called for a hard fiscal ceiling approved through appropriate legislative processes, covering the maximum annual expenditure, support per litre, eligible production volume, assistance available to each participating refinery and duration of the intervention.

Manjo also proposed extensive anti-corruption safeguards, including digital metering, electronic invoicing, independent production verification, electronic payments, beneficial ownership disclosure, independent auditing and cross-agency data reconciliation.

He recommended that government periodically publish the names of participating refineries, approved and verified production volumes, amounts paid, quantities distributed, average support per litre and cumulative fiscal exposure.

Under his proposal, companies found to have falsified production figures, inflated costs, diverted products or submitted fraudulent claims should repay improperly received funds and face appropriate sanctions.

Manjo urged the President to establish an independent inter-agency technical committee involving relevant government agencies, domestic refineries, labour, manufacturers, transport operators, consumers, economists and public-accountability experts.

He recommended that the proposed programme should initially undergo a 30-day technical assessment, followed by a limited pilot between 30 and 90 days if found feasible.

An independent review between 90 and 180 days, he said, should determine whether the programme is achieving its objectives, controlling leakages and delivering sufficient benefits to justify its cost.

He also proposed a statutory sunset clause limiting the initial programme to approximately six to 12 months, subject to evidence-based review and lawful extension where necessary.

Manjo emphasised that his proposal was not a call for the return of the former subsidy regime.
“The proposal contained in this memorandum is not intended to undermine those objectives or to advocate a return to an uncontrolled and opaque subsidy arrangement,” he said.

He urged the Federal Government to combine any petroleum intervention with measures to protect workers, pensioners, farmers, manufacturers, small businesses and vulnerable households from rising living costs.

Manjo, who identified himself as a lawyer, public administrator, lecturer and public-policy practitioner, said the memorandum was submitted as a non-partisan policy intervention and that he had no financial interest in any refinery or petroleum company that could benefit from the proposal.

He ultimately asked President Tinubu to approve an urgent technical and fiscal assessment of the proposal, subject to legal review, legislative oversight, transparency, fiscal prudence and measurable public benefits.