Former Kaduna Central Senatorial District lawmaker, Shehu Sani, has commented on the recent hike in Premium Motor Spirit (PMS), widely known as petrol, suggesting that top petroleum marketers had long awaited a reason to increase fuel prices.
Sani shared his opinion on his official X account, responding to widespread public reactions to the latest fuel price adjustment in Nigeria. The announcement has sparked discussions among citizens and analysts, especially as the increase coincides with escalating geopolitical tensions in the Middle East.
The ex-senator highlighted that the ongoing conflict involving Iran, a major crude oil producer, has had a direct impact on global oil markets, contributing to a rise in petroleum prices worldwide. He noted that such international developments provide local petroleum stakeholders with a convenient rationale for raising pump prices.
Sani emphasized that powerful players in Nigeria’s petroleum industry have been waiting for an opportune moment to push fuel costs higher.
“Our Nigerian petroleum oligarchs have been looking for excuses to raise pump prices; now they have found one with Trump’s war,” he tweeted, referencing former U.S. President Donald Trump and broader geopolitical tensions affecting oil markets. Analysts explain that conflicts in significant oil-producing regions often create supply uncertainties, driving up global prices, which then influence domestic fuel costs in countries that rely on imports or partial production.
The increase in PMS prices has triggered mixed reactions online and among economic observers, with concerns over potential effects on transportation costs, food prices, and the general cost of living. Energy analysts also note that domestic petrol prices are shaped by a combination of global oil price shifts, exchange rate fluctuations, and local supply factors.
Sani’s statements have further fueled the national debate on fuel pricing, market behavior, and the influence of major industry stakeholders in determining the cost of petroleum products in Nigeria.