Koko Maxwella 
LAGOS, Nigeria – Energy expert Wumi Iledare is urging the Federal Government to prioritise fuel supply stability over price controls, warning that global tensions could disrupt Nigeria’s energy market.
Speaking in Lagos, Iledare says ensuring steady supply is critical amid volatility linked to geopolitical tensions in the Middle East.
“In times like this, supply security is more critical than price control,” he says.
He warns that artificially fixing fuel prices could distort the market and create long-term economic risks.
The expert calls for improved foreign exchange liquidity and diversified supply chains to stabilise the sector.
Iledare notes that policies such as crude-for-naira deals and structured imports may offer temporary relief if properly managed.
“These mechanisms must be transparent and time-bound,” he adds.
He stresses that deregulation does not eliminate government responsibility.
“A deregulated market is not a lawless market. The government must enforce competition,” he says.
The economist also highlights the importance of domestic refining, including the Dangote Refinery, while cautioning against reliance on a single supply source.
Rising diesel costs, he adds, continue to pressure manufacturers, calling for targeted interventions to boost productivity.
About the Author
Oluwafunbi Bello 
Oluwatobi Adu 
Hussaini Ibrahim