Hashim-Olawepo: Petrol Can Drop to N200/litre Without Cutting FAAC Revenue
• Accord candidate pegs starting sustainable price at N605/litre •Targets exchange rate of N525-N700 to dollar Emmanuel Addeh in Abuja Presidential Candidate of the Accord Party, Dr Gbenga Hashim-Olawepo, has
Dr. Gbenga Hashim-Olawepo, a presidential candidate of the Accord Party, has proposed that petrol prices in Nigeria could potentially drop to as low as N200 per litre without negatively impacting government revenue or Federation Account Allocation Committee (FAAC) allocations. The candidate believes this can be achieved by reducing the cost of petroleum production, stabilising the exchange rate, and conducting an independent forensic audit of the petroleum value chain.
He argues that Nigeria should not regard the difference between international prices and domestic costs as a "subsidy loss," and instead, focus on transparency, accountability, and efficiency within the petroleum sector.
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