Adebayo Proposes N200 Fuel Price Amid Subsidy Debate

Prince Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP), asserted that fuel should be priced at N200 per litre, arguing that Nigerians cannot afford to pay for fuel at international prices while their earnings remain at local rates. Adebayo criticized President Bola Tinubu for removing the fuel subsidy, claiming that Tinubu does not experience the financial burden of fuel price hikes as he does not participate in the market.

He highlighted the disparity between local wages and international prices, stating that it is unreasonable for individuals earning local wages to pay international prices for fuel. Adebayo explained that Nigeria's energy policy has historically separated crude oil for export from that for domestic consumption, emphasizing the need for functional refineries to ensure affordable petrol prices for Nigerians.

He noted that with proper management, petrol could be made available at N200 per litre, rather than subjecting citizens to international market pricing.