ABUJA, NIGERIA — Social Democratic Party presidential candidate Adewole Adebayo has promised to reduce the prices of petrol, cooking gas, and aviation fuel to N200 per litre within 12 months if elected in 2027, outlining a plan that hinges on reviving the country’s refineries and restoring domestic crude allocation .
Speaking on the News Agency of Nigeria Personality Interview Series in Abuja on Sunday, Adebayo said the proposed pricing regime would cover three key energy products—petrol, cooking gas, and Jet A1—and would be achieved by restoring the original subsidy arrangement that reserved 450,000 barrels of crude oil per day for domestic consumption . Revenue from the sale of other petroleum derivatives, including naphtha, heavy fuel oil, diesel, and kerosene, would be used to equalise the price of the three targeted products .
“The 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,” Adebayo stated .
The SDP candidate argued that Nigeria’s refineries, which are less than 50 years old, remain serviceable and should be rehabilitated rather than abandoned. He cited refineries in the United States that are over 100 years old and still operational as proof that age alone does not render refineries obsolete .
Adebayo dismissed the current debate over fuel subsidy as a “red herring,” arguing that the country’s priority should be developing sufficient domestic refining capacity rather than continuing to import refined products at international prices . He contended that Nigeria possesses two key advantages—crude oil resources and existing refining infrastructure—that should be leveraged to reduce dependence on imports .
Beyond energy policy, Adebayo linked cheaper fuel to a broader economic plan aimed at reducing transportation and housing costs. He proposed expanding public transport and rail services, with workers and students using ID cards linked to public transport while employers contribute six per cent of workers’ salaries toward transportation . He also pledged to cap housing costs at seven per cent of workers’ salaries and provide free education and healthcare .
The SDP candidate’s pledge places energy affordability at the centre of his 2027 campaign. With fuel prices currently exceeding N600 per litre following the removal of subsidies, the N200 promise represents a direct challenge to the current administration’s market-based approach and positions the SDP as an opposition party offering a concrete pricing target .
