SDP Candidate Pledges N200 Petrol Price in 2027

The presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has promised to reduce the prices of petrol, cooking gas and aviation fuel to N200 per litre if elected President in 2027.

Adebayo made the pledge while featuring on the News Agency of Nigeria (NAN) Personality Interview Series in Abuja on Sunday.

He said the proposed reduction would be achieved within 12 months through the rehabilitation of Nigeria’s existing refineries and the creation of a favourable environment for modular refineries to operate.

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The SDP candidate argued that the country’s refineries, despite their age, could still be restored to meet domestic fuel demands, citing older refineries in the United States that remain operational.

He also promised to revive what he described as the original subsidy system, where 450,000 barrels of crude oil were allocated for domestic consumption.

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According to him, revenue from other by-products of crude oil, including naphtha, diesel, kerosene and heavy fuel oil, would help sustain the proposed price regime.

Adebayo said Nigeria’s focus should be on increasing local refining capacity rather than importing refined petroleum products at international prices.

“SDP will pick cooking gas, petrol and Jet A1; those three, we will put them under a regime where the price does not go past N200,” he said.

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