National News – Energy economists have called on the Federal Government to introduce targeted cash transfers for vulnerable Nigerians as fuel prices surge, driven by global oil market instability linked to tensions between the United States and Iran.

The appeal was made on Sunday in Lagos ahead of a major energy conference scheduled from April 26 to 29, where policymakers, industry leaders, and experts will examine the economic impact of rising energy costs.

Speaking on the issue, Professor Adeola Adenikinju explained that while higher global oil prices could boost government revenue, they simultaneously deepen hardship for ordinary citizens.

He noted that increased petrol costs have already triggered higher transport fares and inflation, disproportionately affecting low-income households.

According to him, the absence of a reliable national database of vulnerable citizens remains a key obstacle to delivering effective financial support.

The economists argue that current government responses, such as salary adjustments for civil servants, are insufficient because they exclude millions working in informal and private sectors.

They are urging coordinated action between federal and state authorities to design broader, more inclusive relief measures.

Locally, reactions among Nigerians reflect growing frustration.

Many commuters and small business owners report shrinking incomes and rising daily expenses, with some calling for immediate intervention to prevent further economic strain.

Analysts warn that without direct support, the widening gap between income and living costs could intensify poverty levels.

Beyond short-term relief, stakeholders emphasised the need for structural reforms.

They highlighted the importance of strengthening social protection systems, improving data collection, and investing in domestic refining capacity to reduce dependence on imported fuel.

The situation also raises wider implications for Nigeria’s economy.

Experts believe that if managed strategically, the current global energy shift could create jobs and stimulate growth.

However, failure to act decisively may worsen inflation, slow economic recovery, and increase social pressure on already struggling households.