Adebayo Promises N200 Petrol Price if Elected in 2027

Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP), announced his plan to reduce petrol prices to a maximum of N200 per litre within one year of assuming the presidency in 2027. This pledge was made during an interview in Abuja on September 6, 2026.

Adebayo emphasized the need to restore Nigeria's existing refineries and support modular refineries to boost local production of petroleum products. He proposed a pricing framework to ensure that petrol, cooking gas, and aviation fuel (Jet A1) do not exceed N200 per litre.

Adebayo also suggested reinstating an original subsidy arrangement, which would allocate 450,000 barrels of crude oil for domestic refining. He argued that the focus should be on developing domestic refining capacity rather than relying on imported refined products.

Adebayo criticized the ongoing debate about petrol subsidy, stating that it distracts from deeper structural issues in Nigeria's petroleum sector and asserted that under an SDP-led government, subsidy would not be a government economic program.