The Centre for the Promotion of Private Enterprise has cautioned against restoring the petrol subsidy, calling it fiscally unsustainable despite economic pressures from rising fuel prices. CPPE CEO Muda Yusuf said on Sunday that recent petrol price increases have raised transportation, logistics, and production costs, weakening consumers’ purchasing power. He added that the price hikes have worsened competitiveness challenges for businesses, especially micro, small, and medium enterprises. The CPPE’s position comes amid renewed calls for a return to fuel subsidy, including a pledge by former Vice-President Atiku Abubakar to restore a targeted petrol subsidy if elected in 2027.
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