Donald Duke wants to cut the pump price of petrol. The former Cross River State governor and 2027 presidential candidate of the Peoples Redemption Party (PRP) says he will bring it down to about ₦300 per litre.
Duke made the promise on Channels Television’s Morning Brief. He criticised the current pricing model and explained how his administration would manage Nigeria’s crude oil resources.
His plan rests on one idea: price petrol for Nigerians at cost, not at international market rates.
“I’m going to price petroleum products for local consumption at production costs, not at international market costs,” Duke said.
He argued that Nigeria’s crude oil is a national resource. Nigerians, he said, should not pay international prices for fuel refined from their own crude.
How The Model Would Work
Duke said his plan would reserve part of Nigeria’s daily crude output for local refining. The rest would be sold internationally.
He estimated that about 600,000 barrels per day could be allocated for domestic needs, depending on consumption.
The former governor said the pricing formula would account for refining and distribution costs. A small margin would be added.
“Give it to us at the cost of production, not at the market price. Take into cognisance the costs of refining and distribution, and add five or 10 per cent to it,” he said.
Duke said revenue from other petroleum products could offset the cost of petrol. These include diesel, aviation fuel and kerosene.
He argued this could make petrol sell for between ₦200 and ₦300 per litre without returning to the old subsidy regime.
Asked what petrol would cost under his administration, he said: “I will try and bring it to about 300 naira.”
He criticised the impact of high petrol prices on low-income Nigerians. He noted that the current minimum wage could be consumed by the cost of filling a car’s tank.
Affordable energy, he said, should drive economic activity and improve purchasing power. It should not be treated simply as a source of government revenue.
A Crowded Debate On Subsidy
Duke’s proposal comes amid renewed debate over petrol pricing ahead of the 2027 election. Other candidates have taken different positions.
Former Vice-President Atiku Abubakar and Peter Obi have both spoken on the future of subsidy and pricing.
The PRP candidate’s plan is a campaign policy position. The projected ₦300 pump price would depend on several factors.
These include crude production costs, refinery yields, refining and distribution expenses, exchange rates and petroleum-product market prices.
Nigeria’s petrol pricing has been a flashpoint since the removal of the subsidy in 2023. Pump prices rose sharply.
Transport costs and food prices followed. The debate now centres on whether the country can lower costs without restoring the fiscal burden of subsidies.
Duke’s answer is to separate domestic consumption from the international market. Whether that model is workable remains an open question. But it has added a distinct voice to the 2027 policy debate.
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