Adebayo Promises ₦200 Fuel Prices If Elected in 2027

Prince Adewole Adebayo, the presidential candidate for the Social Democratic Party (SDP), has promised to reduce the prices of petrol, cooking gas, and aviation fuel to ₦200 per litre if he is elected president in 2027. He stated that this price reduction would be achievable within 12 months by reviving Nigeria's existing refineries and creating a conducive environment for modular refineries to operate.

Adebayo emphasized that Nigeria's aging refineries could still be rehabilitated to meet a significant portion of the country's domestic fuel needs, citing examples of long-operating refineries in the United States. He pointed out that products derived from crude oil, such as naphtha, heavy fuel oil, diesel, and kerosene, could be sold to support the proposed fuel price regime.

Adebayo criticized the country's reliance on imported refined petroleum products, which he identified as a key issue in the petroleum sector. He also dismissed the notion that removing fuel subsidies alone would resolve Nigeria's fiscal challenges, asserting that under an SDP government, Nigerians would not face subsidy controversies.