Adebayo Targets Domestic Refining to Cut Fuel Prices in Nigeria

Prince Adewole Adebayo, the Social Democratic Party's (SDP) presidential candidate for the 2027 general elections, has unveiled a plan to reduce fuel prices in Nigeria. He proposes increasing domestic refining, lowering logistics costs, and expanding the use of Nigerian gas as measures to make petroleum products more affordable.

Adebayo argues that 'Nigeria's oil must first serve Nigerians,' suggesting that domestic petroleum production should be strengthened to reduce the country's dependence on imported refined products. He believes this will help limit costs associated with transportation and distribution.

The blueprint, titled Farewell to Poverty and Insecurity, emphasizes increasing domestic refining, with functioning Nigerian refineries having transparent and reliable access to locally produced crude oil. It also proposes that government should publish crude allocation figures, enforce supply agreements, and address logistics bottlenecks to reduce costs.