Olawepo-Hashim Promises Petrol Price Cap at ₦610

Gbenga Olawepo-Hashim, a factional presidential candidate of the Accord Party for the 2027 elections, has pledged that Nigerians will not pay more than ₦610 per litre for petrol if he becomes president. He stated that the targeted fair price is ₦605 per litre, with potential reductions to ₦200 or ₦300 if production costs are optimized and the desired exchange rate is achieved.

Olawepo-Hashim emphasized that this price reduction would not involve artificial subsidies and criticized the previous rationale for petrol subsidy removal as “accounting magic.” He called for an independent forensic audit of the petroleum value chain in Nigeria to determine the actual costs associated with producing, refining, transporting, and distributing petrol. He argued that Nigerians should not bear the costs of inefficiencies in the petroleum sector and insisted on transparency regarding production costs.

Olawepo-Hashim's proposed pricing framework aims to ensure that the domestic price of petrol reflects genuine production costs rather than inflated prices.