The Peoples Redemption Party (PRP) presidential candidate, Donald Duke, has promised to reduce the price of petrol to about N300 per litre if elected president in 2027.
Duke, a former governor of Cross River State, made the pledge on Wednesday during an interview on Channels Television’s Morning Brief, where he outlined his proposed approach to Nigeria’s petroleum sector.
The former governor said his plan would involve pricing petroleum products meant for domestic consumption based on the cost of production rather than international market rates.
According to him, part of Nigeria’s crude oil production could be reserved for domestic consumption, while the remaining volume would be sold on the international market.
“I’ll try and bring it to about N300,” Duke said when asked what petrol would cost under his proposed administration.
He argued that affordable fuel was essential to economic productivity, noting that high energy costs affect transportation, businesses and the ability of Nigerians to meet their daily needs.
Duke also criticised the existing approach to petroleum pricing and said he would not simply inherit the policies of President Bola Tinubu if elected.
“The subsidy regime thing, this whole scam… I’m going to price petroleum products for local consumption at production cost, not at the international market,” he said.
His proposal comes more than three years after the Tinubu administration removed the petrol subsidy, a policy that led to a sharp increase in fuel prices and contributed to wider concerns over the cost of living.
The issue has remained a major subject in the 2027 presidential campaign, with opposition candidates offering different approaches to the petrol-pricing question.
Former Vice-President Atiku Abubakar, the African Democratic Congress (ADC) presidential candidate, has said he would restore the petrol subsidy if elected, arguing that Nigerians have not seen sufficient benefits from its removal.
Peter Obi, the Nigeria Democratic Congress (NDC) presidential candidate, has also said he would consider restoring the subsidy after addressing corruption and waste in the system, while maintaining that the gains from subsidy removal should have been better managed.
Duke’s proposal therefore places petrol pricing and the management of Nigeria’s crude oil resources at the centre of his economic pitch ahead of the 2027 presidential election.
While the PRP candidate presented N300 per litre as a target, the proposal remains a campaign pledge that would depend on the implementation of his proposed domestic crude allocation and production-cost pricing model if elected.