The issue of petrol pricing and subsidy removal is emerging as a major debate ahead of the 2027 presidential election, with candidates offering different proposals on how to reduce fuel prices without worsening Nigeria’s financial burden.
African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has proposed restoring a form of petrol subsidy, arguing that Nigerians have continued to suffer the impact of its removal without receiving enough benefits.
However, presidential candidates Seyi Makinde of the Allied Peoples Movement (APM) and Adewole Adebayo of the Social Democratic Party (SDP) rejected a return to petrol subsidy.
Makinde said his administration would reduce fuel prices by restructuring domestic crude allocation to Nigerian refineries. He argued that crude supplied to local refineries should reflect Nigeria’s status as an oil-producing country.
Adebayo promised to reduce petrol prices to about N200 per litre within 12 months through increased domestic refining and better management of crude allocation, rather than restoring subsidy.
Accord candidate Gbenga Olawepo-Hashim has proposed an initial petrol price of N605 per litre, saying further reductions could be achieved through lower production costs, increased domestic refining and exchange-rate reforms.
Political analysts at the University of Ibadan said the impact of petrol subsidy removal on the cost of living could influence voting decisions in 2027. They noted that higher fuel and transportation costs have affected the prices of goods and services.
Former Secretary to the Government of the Federation, Olu Falae, warned that reversing subsidy removal could weaken government finances and reduce funds available for salaries and infrastructure.
Experts have also urged Nigerians to scrutinise candidates’ promises, particularly how proposed petrol price reductions or subsidy programmes would be funded and sustained.
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