2027: Adebayo Pledges Petrol, Cooking Gas, Jet Fuel Below ₦200 Per Litre, Unveils Refinery Revival Plan

The presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has promised to bring down the prices of petrol, cooking gas and aviation fuel (Jet A1) to below ₦200 per litre if elected Nigeria’s president in 2027.

Speaking during the News Agency of Nigeria (NAN) Personality Interview Series in Abuja on Sunday, Adebayo said his administration would deliver the reduction within its first 12 months by restoring the country’s refining capacity and promoting modular refineries.

He said Nigeria possesses the resources needed to meet its domestic fuel demand without relying heavily on imported refined products, stressing that rehabilitating the nation’s refineries would be a key priority.

According to him, the age of the country’s refineries should not be an excuse for abandoning them, noting that refineries built many decades ago are still operating efficiently in other parts of the world.

The SDP standard-bearer also proposed setting aside 450,000 barrels of crude oil daily for domestic refining, saying the arrangement would guarantee a steady supply of petroleum products for Nigerians.

He explained that proceeds from the sale of other refined products such as diesel, kerosene, naphtha and heavy fuel oil would help sustain lower prices for petrol, cooking gas and Jet A1.

> “We will ensure that cooking gas, petrol and Jet A1 remain below ₦200 per litre,” Adebayo said.

He added that his government would collaborate with the National Assembly to establish the legal and financial framework required to implement the pricing policy.

Adebayo argued that Nigeria’s energy policy should focus on adding value to its crude oil locally instead of exporting crude and importing expensive refined products.

He also faulted the belief that ending fuel subsidy alone would resolve the country’s economic problems, insisting that the debate has overshadowed more practical solutions.

The SDP candidate further said his administration would invest in rail transportation and strengthen public transit systems to reduce transportation costs and lessen dependence on private vehicles across the country.