2027: “Petrol Will Sell For ₦200” — SDP Presidential Candidate

The Social Democratic Party (SDP) presidential candidate for the 2027 election, Adewole Adebayo, has promised to reduce the prices of petrol, cooking gas and aviation fuel to no more than ₦200 per litre if elected president.

According to Ireporter Online, Adebayo made the pledge during an interaction with journalists in Abuja, where he outlined some of the economic policies his administration would pursue.

The SDP candidate said he would target the ₦200 price within 12 months by rehabilitating existing refineries and supporting the establishment and expansion of modular refineries across the country.

Adebayo argued that Nigeria has sufficient crude oil resources and refining capacity to significantly reduce its dependence on imported petroleum products. He said his administration would prioritise the effective utilisation of domestic resources to meet the country’s energy needs.

He explained that products derived from crude oil refining, including naphtha, heavy fuel oil, diesel and kerosene, would be sold, with the proceeds used to support a price equalisation system for the products covered by the proposed policy.

According to him, petrol, cooking gas and Jet A1 would be placed under a pricing framework designed to prevent their retail prices from exceeding ₦200 per litre.

Adebayo also proposed limiting transportation expenses to six per cent of workers’ salaries and housing costs to seven per cent, while promising free education and healthcare under an SDP-led administration.

He further said his government would prioritise agriculture and food security as part of efforts to make food more affordable and reduce the economic pressure on Nigerian households.

The presidential candidate said the proposed measures would form part of a broader economic strategy aimed at lowering living costs and improving access to essential services if he wins the 2027 presidential election.