2027: SDP’s Adebayo Promises N200 Petrol, Cooking Gas, Jet A1 Within One Year

The presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has promised to reduce the prices of petrol, cooking gas and aviation fuel (Jet A1) to N200 per litre if elected president in 2027.

Adebayo made the pledge on Sunday while featuring on the News Agency of Nigeria (NAN) Personality Interview Series in Abuja.

He said the proposed price reduction would be achieved within 12 months through the rehabilitation of Nigeria’s existing refineries and the creation of an enabling environment for modular refineries to operate.

According to him, the age of Nigeria’s refineries should not be an excuse for abandoning them, arguing that some refineries in the United States have operated for more than a century.

Adebayo also pledged to restore what he described as the original subsidy arrangement, under which 450,000 barrels of crude oil were allocated for domestic consumption.

He explained that proceeds from other petroleum products derived from the crude, including naphtha, heavy fuel oil, diesel and kerosene, could be used to support the proposed pricing regime.

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The SDP candidate said the focus should shift from the subsidy debate to expanding Nigeria’s domestic refining capacity.

“SDP will pick cooking gas, petrol and Jet A1; those three, we will put them under a regime where the price does not go past N200,” he said.

Adebayo further promised to introduce major reforms in transportation, including expanded public transport and rail services, to reduce Nigerians’ dependence on private vehicles.

He proposed a system where workers and students would access public transportation using employment and student identification cards, while employers would contribute six per cent of workers’ salaries towards transportation.

He also pledged to ensure that housing costs do not exceed seven per cent of workers’ salaries, while providing free education and healthcare.

“The summary of it is that transportation costs cannot go more than six per cent of your salary and housing costs should not be more than seven per cent of your salary; education and healthcare should be free,” he said.

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The SDP presidential candidate also promised to prioritise agriculture and food security as part of efforts to reduce food prices and make essential commodities more affordable for Nigerians.