Prof. Ahmad Adamu, has urged Nigerians to understand the forces driving fuel prices. He also called for stronger economic resilience as reforms continue.
He spoke on Insight, a programme on the Nigerian Television Authority (NTA).
Adamu explained that fuel prices change mainly due to market forces. These include global oil prices, exchange rates, and supply conditions.
He added that Nigeria now operates in a deregulated petroleum sector. This means both local and global factors directly affect fuel costs.
According to him, removing fuel subsidies has created short-term hardship. However, he said it could support long-term stability if properly managed.
He stressed the need for transparency and effective regulation. He also called for targeted support to protect vulnerable Nigerians.
Adamu urged the government to invest in local refining and energy diversification. He said better infrastructure will also help reduce dependence on fuel imports.
He advised Nigerians to adjust to the new reality. He encouraged energy efficiency and the use of alternative energy sources where possible.
He concluded that resilience is key. Both the government and citizens must adapt to achieve sustainable economic growth.
