The Centre for the Promotion of Private Enterprise (CPPE) has cautioned against restoring the petrol subsidy, describing the policy as fiscally unsustainable despite the severe economic pressures caused by rising petrol prices.

The private-sector advocacy group, in a policy brief signed by its Chief Executive Officer, Muda Yusuf, on Sunday, said the recent escalation in petrol prices had increased transportation, logistics and production costs, weakening consumers’ purchasing power.

It added that the recent increase in fuel prices also worsened the competitiveness challenges confronting businesses, particularly micro, small and medium enterprises (MSMEs).

CPPE’s position comes amid renewed calls for a return to fuel subsidy, including a pledge by former Vice-President Atiku Abubakar to restore a targeted petrol subsidy if elected in 2027.

The organisation said the subsidy debate should not be reduced to the issue of pump prices, arguing that it has wider implications for Nigeria’s fiscal sustainability, foreign exchange stability, investment, domestic refining, industrialisation, employment and energy security.

“The central policy question is therefore not whether Nigeria should return to the old subsidy regime, but how to preserve the gains of the reform while reducing its social costs and translating the resulting fiscal space into tangible improvements in citizens’ welfare,” CPPE said.

Subsidy regime

According to the think tank, Nigeria previously spent an estimated $10 billion to $15 billion annually on petroleum-product imports before the subsidy reform.

It said subsidy and under-recovery obligations also consumed significant public resources, constrained remittances to the Federation Account and intensified fiscal pressures.

CPPE said artificially low domestic petrol prices also encouraged arbitrage and cross-border diversion, effectively resulting in Nigerian public resources subsidising fuel consumption outside the country.

“The old regime was therefore not merely a subsidy problem; it was a major fiscal, foreign-exchange and resource-allocation problem,” the think tank said.

Domestic refining

The group said the shift to market-based petrol pricing had improved the commercial viability of domestic refining by creating stronger investment incentives in the sector.

The think tank argued that a competitive domestic refining industry would generate opportunities beyond petrol production, including in diesel, aviation fuel, petrochemicals, fertiliser, plastics, chemicals, logistics, storage and maritime services.

“Domestic refining also conserves foreign exchange through import substitution, creates export opportunities and retains refining, engineering, logistics and technical jobs within the Nigerian economy,” CPPE said.

It urged Nigeria to pursue the transition from dependence on imported petroleum products to becoming “a competitive regional refining and petrochemical hub.”

CPPE acknowledged that subsidy removal had increased revenues available to the federal, state and local governments but said higher government revenues alone could not justify the reform.

“Citizens must see tangible benefits through improved public transportation, electricity, healthcare, education, food security, infrastructure and social protection,” it said.

The organisation said the debate should now focus increasingly on fiscal accountability and the quality of government spending.

It called on the three tiers of government to transparently demonstrate how the additional resources arising from the reform were being used to improve economic and social outcomes.

Global oil shock

The group also stressed the need to distinguish the price increase associated with subsidy removal from more recent increases attributed to movements in global crude oil and refined-product prices.

According to CPPE, petrol was selling at about N774 to N800 per litre before the latest escalation in international energy prices, while prices subsequently rose above N1,300 per litre amid what it described as a sharp increase in global energy prices linked to the Middle East crisis.

“It would therefore be incorrect to attribute the entirety of the latest petrol-price increase to subsidy removal,” the organisation said.

The think tank described the two developments as separate issues requiring different policy responses: the first, a domestic structural reform involving the transition to market-based pricing, and the second, an external commodity price shock.

N20 trillion subsidy bill

CPPE said restoring a universal petrol subsidy could recreate the fiscal and foreign-exchange pressures that prompted the reform.

Using an estimated petrol consumption benchmark of 50 million litres per day and an indicative subsidy requirement of N1,050 per litre, the organisation estimated that the potential subsidy exposure could amount to about ₦ 152.5 billion daily, N1.575 trillion monthly, and approximately N19.16 trillion annually.

It described the figure as an annual burden of about N20 trillion, while acknowledging that the actual cost would depend on factors including consumption, crude oil prices, exchange rates, refining or landing costs, and the regulated pump price.

CPPE also warned that consumption could increase under a subsidy regime as price differentials could recreate incentives for cross-border diversion.

“An annual subsidy bill approaching N20 trillion would impose an enormous opportunity cost,” it said.

According to the organisation, such spending could compete with funding for infrastructure, education, healthcare, security, agriculture and social protection, while potentially widening the fiscal deficit and increasing borrowing and debt-service pressures.

It further warned that increased government borrowing could crowd out private-sector credit, sustain high interest rates and weaken investment, productivity, job creation and economic growth.

“Nigeria would therefore risk replacing an energy-price problem with a much larger fiscal, debt, foreign-exchange and investment problem,” CPPE said.

Targeted relief

Rather than restoring the the petrol subsidy, the organisation urged the government to implement targeted interventions to reduce household vulnerability and business costs.

It recommended expanding affordable public transportation, rail freight, and logistics infrastructure; improving electricity supply; accelerating compressed natural gas (CNG), solar, and distributed energy solutions; and strengthening food production through improved agricultural security, irrigation, rural infrastructure, and logistics.

CPPE also called for targeted support for vulnerable households, improved public healthcare and education, and measures to reduce energy, logistics and financing costs for productive enterprises, particularly MSMEs.

READ ALSO: CPPE urges NMDPRA to tie petrol imports to verified supply gaps

It urged the government to maintain a predictable, market-oriented framework for the downstream petroleum sector to protect investor confidence and encourage further investment in domestic refining.

“The appropriate policy direction is to preserve the downstream petroleum reforms while aggressively mitigating their social and economic costs,” the organisation said.

CPPE said the fiscal gains from subsidy removal must become more visible through infrastructure, public services and productive investment, alongside greater transparency and accountability in the utilisation of additional revenues accruing to the federal, state and local governments.

“The subsidy debate should therefore move beyond the binary question of whether petrol subsidy should be restored.

“The more consequential issue is how Nigeria can convert the gains of the reform into lower structural costs, stronger domestic production, improved competitiveness, greater energy security and measurable improvements in citizens’ welfare,” it said.

The organisation said the recommendations would make the reform “economically sustainable and socially defensible.”

Nigeria’s petrol subsidy was removed in May 2023 after President Bola Tinubu announced during his inauguration on 29 May that “the fuel subsidy is gone.”

The announcement effectively ended the government’s previous system of subsidising petrol costs, prompting the Nigerian National Petroleum Company Limited (NNPC Ltd) to adjust pump prices nationwide in June 2023.

The reform was intended to reduce the government’s financial burden from subsidising petrol.

Apple and Samsung are taking different approaches to the growing foldable smartphone market, with the iPhone Duo and Galaxy Z Fold8 showing how the two technology giants believe users will interact with large-screen smartphones in the future.

Both devices bring 7.6-inch internal displays, flagship-level processing, advanced cameras, artificial intelligence features and flexible form factors. But while Samsung continues to position its Galaxy Z Fold line as a smartphone that can double as a productivity device, Apple is presenting the iPhone Duo as a more immersive iPhone experience built around entertainment, AI and seamless movement between displays.

The result is a comparison that goes beyond specifications. It is increasingly a question of what consumers want their foldable phone to become.

It is increasingly a question of what consumers want their foldable phone to become.

Display: Different approaches to the foldable screen

The large internal display is one of the biggest attractions of both devices.

The iPhone Duo features a 7.6-inch Super Retina XDR inner display, with Apple placing significant emphasis on creating an uninterrupted viewing experience.

The company says the inner screen is made up of 10 ultrathin layers and features a custom nano-texture finish designed to reduce glare. Apple has also hidden the FaceTime camera beneath the display, allowing the screen to appear more seamless when the camera is not being used.

The Galaxy Z Fold8 also comes with a 7.6-inch main display, using Samsung’s Dynamic AMOLED 2X technology. The screen has a 1848 x 2448 resolution and supports a refresh rate of up to 120Hz.

When folded, Samsung’s device provides a 5.5-inch cover display, giving users a more conventional smartphone experience. The two tech companies therefore start with similar screen sizes but place different emphasis on what that extra screen should deliver.

Apple is selling the Duo as an immersive viewing surface for movies, shows and games, while Samsung’s larger screen has traditionally been built around multitasking and productivity.

Design: More ways to use a larger screen

The foldable form factor also changes how the phones can be used. Apple describes the iPhone Duo as having a “posable design”, allowing users to position the device for different activities. The phone can be angled for watching movies and shows, positioned for hands-free video calls or used to record content without having to hold it continuously.

Apple has also redesigned aspects of iOS 27 around the foldable design, allowing users to transition between the inner and outer displays and different orientations.

Samsung’s Galaxy Z Fold8 follows the book-style foldable design that has become synonymous with the Galaxy Z Fold series. The device measures 123.9 x 161.4 x 4.5mm when unfolded and 123.9 x 81.9 x 9.7mm when folded. It weighs 201g.

The Fold8’s design is also closely tied to its productivity ambitions, particularly through Samsung DeX, which allows the smartphone to provide a desktop-style interface when connected to compatible displays and accessories.

Performance: Apple puts AI at the heart of its chip

The iPhone Duo is powered by Apple’s A20 Pro chip, equipped with a dual 16-core Neural Engine.

Apple says the processor delivers up to 20 per cent faster six-core CPU performance than the A19 Pro and up to 50 per cent more memory bandwidth.

The device also features an advanced thermal management system with a vapor chamber, designed to help maintain performance during intensive workloads and gaming.

Samsung’s Galaxy Z Fold8 uses an octa-core processor with CPU speeds reaching 4.74GHz. The configuration provided comes with 12GB of RAM and 256GB of storage.

The difference illustrates the companies’ broader strategies.

Apple is placing considerable emphasis on its custom silicon’s ability to handle AI workloads, while Samsung is combining flagship processing with Android’s multitasking capabilities and the wider Galaxy software ecosystem.

For users, the real-world difference may come less from processor numbers and more from how each company uses its hardware to improve everyday tasks.

Cameras: Different priorities for mobile photography

The camera systems also reveal different priorities.

The iPhone Duo can capture 48MP photographs and record 4K video at up to 120 frames per second.

Apple is also introducing features specifically designed around the foldable form factor.

Duo Preview allows people around the phone to be included in the shooting experience, while Kid Cue is designed to help children look towards the camera. Duo FaceTime is aimed at group calls, while Smart Take is designed to help users participate in moments instead of remaining behind the camera.

Samsung’s Galaxy Z Fold8 features two 50MP rear cameras, with autofocus and optical image stabilisation. It supports 2x optical-quality zoom and digital zoom of up to 10x. Samsung also pushes further on video resolution, with the Fold8 capable of recording 8K video at 30 frames per second.

The two approaches could appeal to different users.

Samsung’s 8K capability gives the Fold8 an advantage for users prioritising very high-resolution video, while Apple’s combination of 48MP photography, 4K 120fps recording and computational features could appeal to creators focused on high-frame-rate footage and mobile photography.

Battery: Efficiency takes centre stage

Foldable phones have traditionally faced a difficult engineering challenge: delivering long battery life while fitting batteries and other components into a thinner, more complex body.

Apple says it has addressed this with an iPhone-first dual-battery system and an internal space-saving eSIM design that creates more room for battery capacity.

The company claims the iPhone Duo can deliver up to 31 hours of video playback when using the inner display and up to 44 hours when using the outer display.

Apple also says the phone can reach 50 per cent charge in around 20 minutes using fast wired charging.

The Galaxy Z Fold8 has a 4,800mAh battery and supports charging of up to 45W. Its specifications list up to 26 hours of wireless video playback.

On the numbers supplied, Apple’s claimed video playback figures give the Duo a notable advantage, particularly when using the outer display.

However, battery performance in everyday use will depend on factors such as display brightness, network connectivity, applications, gaming and camera use.

AI and software: Two approaches to smarter smartphones

Artificial intelligence is increasingly becoming one of the main selling points for flagship smartphones, and both devices reflect that shift.

The iPhone Duo includes Siri AI and Apple Intelligence features covering areas such as photo editing, Writing Tools and Visual Intelligence.

Apple’s A20 Pro chip and Neural Engine are also specifically designed to handle intensive AI workloads.

The company is therefore treating AI not as a separate feature but as part of the underlying architecture of the device.

Samsung’s Galaxy Z Fold8 approaches AI through its Android and Galaxy ecosystem while combining it with the productivity advantages of a large foldable screen.

This difference could become increasingly important as smartphone manufacturers move from simply adding AI tools to building AI into everyday interactions.

Productivity: Samsung leans into the desktop experience

The Galaxy Z Fold8’s strongest argument may be its ability to function as more than a conventional smartphone.

Its 7.6-inch display provides considerably more space for multitasking, while Samsung DeX can transform the device into a desktop-style computing environment.

For professionals, the ability to work with documents, applications and multiple tasks on a larger screen could make the Fold8 a practical alternative to carrying both a phone and a lightweight computer for some workflows.

Apple’s iPhone Duo, based on the specifications provided, places greater emphasis on entertainment, camera experiences, AI and flexible positioning.

That does not necessarily make the Duo less capable for productivity. Rather, Apple appears to be approaching the larger screen from the perspective of extending the iPhone experience rather than turning the device into a desktop replacement.

Ecosystem: The wider experience beyond the phone

Beyond the hardware, the two phones are gateways into two very different technology ecosystems.

The iPhone Duo supports Wi-Fi 7, Bluetooth 6, 5G and eSIM and is designed around Apple’s broader ecosystem of services and devices.

It also includes safety and communication features such as Messages via satellite.

Samsung’s Galaxy Z Fold8 supports Wi-Fi 7, Bluetooth 6, NFC and UWB, alongside physical Nano-SIM and eSIM configurations.

It also connects with a wide range of Galaxy products, including Galaxy Buds, Galaxy Watches and the Galaxy Ring, while supporting SmartThings.

For existing users, this could be more important than a camera specification or processor benchmark.

Someone already invested in Apple’s ecosystem may naturally find the Duo easier to integrate into their digital life, while users with Galaxy watches, earbuds and other Samsung devices may have more reasons to remain within the Galaxy ecosystem.

Price: iPhone Duo starts cheaper but reaches a higher premium

The price comparison adds another interesting dimension to the battle in the Nigerian market.

The Galaxy Z Fold8 ranges from approximately ₦3,050,435 to ₦3,966,104, depending on the configuration.

The iPhone Duo, meanwhile, ranges from approximately ₦2,647,515 to ₦4,236,819.58.

At the entry level, the iPhone Duo is about ₦402,920 cheaper than the lowest-priced Galaxy Z Fold8.

But the situation changes at the top end. The most expensive iPhone Duo configuration is about ₦270,716 more expensive than the highest listed Galaxy Z Fold8 configuration.

This gives Apple a wider price range, with the Duo undercutting Samsung at the entry point while extending further into the premium segment.

For Nigerian buyers, however, actual retail prices can vary depending on storage configuration, retailer, import costs, exchange-rate movements and promotions.

The pricing therefore makes the choice less straightforward. A buyer focused on the entry price may find the iPhone Duo more attractive, while someone comparing similarly positioned premium configurations would need to consider the features and ecosystem offered by each device.

The bigger picture: Two different visions for foldable phones

The iPhone Duo and Galaxy Z Fold8 may share a 7.6-inch internal display, but their respective strategies suggest that Apple and Samsung are not necessarily trying to solve the same problem.

Apple is asking what an iPhone can become when it gains a much larger, foldable screen. Its answer is an immersive device built around the iPhone experience, AI, photography, entertainment, flexible positioning and battery efficiency.

Samsung’s answer is more closely tied to the idea of a smartphone becoming a productivity machine. The Galaxy Z Fold8 combines its large AMOLED display with multitasking, Samsung DeX, high-resolution cameras and integration with a broad Galaxy ecosystem.

For entertainment and immersive viewing, the iPhone Duo’s uninterrupted 7.6-inch display is a strong proposition.

For productivity and desktop-style workflows, the Galaxy Z Fold8 has an advantage through its large screen and DeX support.

For video creators, Samsung’s 8K recording stands out, while Apple’s 4K 120fps capability and camera-focused software features offer a different set of creative tools.

For AI, Apple’s A20 Pro and Neural Engine make artificial intelligence a major part of the Duo’s hardware story.

Ultimately, the comparison between the iPhone Duo and Galaxy Z Fold8 is not simply about which company has the better foldable phone.

It is about two competing definitions of what the foldable smartphone should become.

Apple wants the iPhone to open into a more immersive personal screen. Samsung wants the smartphone to unfold into something closer to a computer.

As foldable phones move further into the mainstream, that distinction could become more important than the folding technology itself.