- 2027: ‘Petrol Will Not Exceed ₦610 Per Litre If I Win’ – Presidential Candidate
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He targets ₦200 to ₦300 petrol through lower production costs.
- Accord candidate proposes exchange rate target of ₦525 to ₦700.
Accord Party presidential candidate Gbenga Olawepo Hashim has promised that Nigerians would not pay more than ₦610 per litre for petrol if he is elected president in 2027.
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EKO HOT BLOG reports that Olawepo Hashim said the sustainable starting price would be ₦605 per litre, adding that the cost could eventually fall to between ₦200 and ₦300 if production costs and the exchange rate are properly managed.
Speaking during an interview, he said the proposed reduction would not affect government revenue or allocations to the Federation Account Allocation Committee.
“N605 per litre is our starting sustainable price for petrol. Nobody will buy petrol above N610 under our government. It could be as low as N200,” he said.
He argued that domestic petrol prices should be based on the actual cost of producing, refining, transporting and distributing the product in Nigeria rather than being automatically linked to international benchmarks.
Olawepo Hashim described previous explanations surrounding petrol subsidy removal as “accounting magic” and called for an independent forensic audit of the petroleum value chain.
He said the audit should cover crude oil production, contracting, procurement, refining, transportation, storage, insurance, pipelines and distribution.
“Show Nigerians the books. Publish the production cost. Publish the refinery cost. Publish transportation. Publish insurance. Publish every margin. Let the data speak,” he said.
The Accord candidate also promised to target an exchange rate of between ₦525 and ₦700 to the dollar, arguing that a stronger naira would reduce the cost of petroleum sector inputs.
He maintained that making petrol cheaper would not mean making government poorer.
“Our objective is not simply cheap petrol. Our objective is a productive Nigerian economy in which affordable energy, stronger production and stronger government revenue reinforce one another,” he said.
Olawepo Hashim said government intervention in petrol pricing could be justified if it was transparent, targeted and linked to measurable economic objectives.
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