2027: SDP’S ADEBAYO VOWS TO REDUCE PETROL PRICE TO N200 PER LITRE WITHIN ONE YEAR
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By: Muftau Fatimo
The Social Democratic Party (SDP) presidential candidate, Adewole Adebayo, has promised to reduce the price of petroleum products to N200 per litre if elected President in 2027.
Adebayo made the pledge in an interview with the News Agency of Nigeria on Sunday, saying his proposed pricing regime would be implemented within 12 months of assuming office.
He also promised that his administration would revive Nigeria’s existing refineries and promote the operation of modular refineries across the country.
According to him, the measures would help increase domestic refining capacity and contribute to lower petroleum prices, some refineries in the United States that are more than 100 years old are still operational, adding that the age of Nigeria’s refineries should not be an obstacle to their rehabilitation.
“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.
He further disclosed that he would return the original subsidy regime, under which 450,000 barrels of crude oil are reserved for domestic consumption.
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