2027: If elected, I’ll crash petrol price to N200 per litre – Adebayo
Presidential candidate of Social Democratic Party (SDP), Prince Adewole Adebayo, says prices of petrol, cooking gas and aviation fuel, otherwise known as Jet A1, will be reduced to N200 per litre if elected president in 2027. Adebayo made the promise while featuring on the News Agency of Nigeria (NAN) Personality Interview Series on Sunday in […]
In a recent interview, Prince Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP), announced his plans to reduce the prices of petrol, cooking gas, and Jet A1 to N200 per litre if elected president in 2027. He claimed that this reduction could be achieved within a year by reviving local refineries and creating a conducive atmosphere for modular refineries to flourish.
The SDP candidate also promised to restore the original subsidy regime, reserving 450,000 barrels of crude oil for local consumption, with the money from selling derivatives like naphtha, diesel, kerosene, and heavy fuel oil being used to maintain the regime price. Adebayo emphasized that Nigeria's priority should be developing sufficient domestic refining capacity rather than relying heavily on imported refined petroleum products.
He dismissed the notion that removing the subsidy would solve Nigeria's fiscal issues, instead advocating for measures to improve the country's refineries and expand public transportation and rail services.
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