Senator Ishaku Abbo has suggested that President Bola Tinubu cap fuel prices at N480 per liter as a strategic move to manage inflation and provide Nigerians with a cost break amid rising living expenses. Abbo proposed that Tinubu negotiate with oil marketers to secure this price until the end of 2025, potentially reducing public backlash and stabilizing the economy. This approach could also help the administration as it navigates other economic measures, like infrastructure funding and the new minimum wage adjustments.

The senator’s idea aligns with Tinubu’s recent budget priorities, which include measures to improve infrastructure, increase revenue, and control inflation. With a proposed supplementary budget of N6.2 trillion for infrastructure, minimum wage adjustments, and social investments, Tinubu’s administration has a significant fiscal focus on economic stabilization and development, which Abbo’s suggestion could support by addressing inflationary pressures on essential goods like fuel.