Olawepo-Hashim Proposes N605 Fuel Price for Nigeria

Gbenga Olawepo-Hashim, the Accord Party’s presidential candidate for the 2027 election, articulated his plan to achieve a fuel price of N605 per litre during an interview on Channels Television. He contended that the current pricing structure overvalues fuel and burdens consumers.

His proposal is based on a domestic crude cost of approximately $30 per barrel, factoring in refining, logistics, and an energy tax for alternative energy development. Olawepo-Hashim criticized the federal government’s handling of the naira, asserting it is undervalued.

He emphasized that Nigeria should not rely solely on international crude prices for domestic petroleum pricing, advocating for a pricing model that supports local industries. He also condemned the importation of refined petroleum products, urging the government to prioritize domestic crude supply to local refineries, including the Dangote refinery.

His vision aims to transform Nigeria from a crude exporter to a net producer of refined products and petrochemicals.