In a recent statement via his official X account, on Tuesday, March 10, 2026, in response to the worldwide unrest caused by the dispute between the US and Iran, Shehu Sani—a former senator from Kaduna Central—has speculated that petrol prices in Nigeria could rise. ”
Our Nigerian Petroleum Oligarchs have been looking for excuses to increase the pump prices; now they have gotten one with the Trump’s war,” said the author.
Sani stated in his post that influential Nigerians in the petroleum industry have been looking for an excuse to increase petrol prices, and that the international crisis caused by the war has now given them their chance.
Local industry actors often use global events to justify actions that impact regular Nigerians, in his opinion, and the current conflict is a prime example of this. He predicted that petrol prices across the country would be hiked in the future.
Additionally, he conjectured that a handful of influential persons exert disproportionate control over the Nigerian petroleum market, and that these individuals frequently exploit global events to justify predetermined price modifications.
According to him, some industry participants have been trying to raise fuel costs, and the fight associated with Trump has become another pretext that they might exploit. This is especially true in Nigeria, where petroleum interests are heavily invested.
He brought attention to the persistent public sensitivity about fuel prices in Nigeria and the overall effect that global wars might have on the country’s economy, stating that nations that rely on petroleum imports will always have domestic pricing affected by changes in the worldwide oil market. See more