Hashim Proposes Petrol Price of N605, Potentially N200

Gbenga Olawepo-Hashim, the Accord Party's presidential candidate for the 2027 general elections, proposed that petrol should not exceed N610 per litre under his administration, with the potential to decrease to N200 per litre if Nigeria addresses its production costs and stabilizes the exchange rate. He described N605 per litre as a "starting sustainable price," emphasizing that this would not be a subsidized rate and would not impact government revenue or Federation Account Allocation Committee (FAAC) disbursements.

Hashim criticized the previous handling of petroleum subsidy removal, labeling the justifications as "accounting magic" and called for an independent forensic audit of the entire petroleum supply chain. He pointed out Nigeria's high production costs compared to other oil-producing nations, attributing this to inflated contracting and operational inefficiencies.

His pricing strategy relies on correcting production costs and achieving an exchange rate between N525 and N700 to the US dollar, which he believes would lower petroleum input costs and enhance household purchasing power.