Presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has said he would work to reduce the price of petrol to about ₦300 per litre if elected president in the 2027 general election.
The former Cross River State governor disclosed this during an interview on Channels Television’s Morning Brief on Wednesday while outlining his economic plans and proposed approach to Nigeria’s petroleum sector.
Duke argued that petrol for domestic consumption should be priced according to the cost of production rather than international market prices.
He said Nigeria could set aside a portion of its crude oil production for domestic consumption and sell the remaining output internationally.
According to him, the approach would allow the country to take advantage of its crude resources while reducing the burden of high fuel prices on Nigerians.
Duke said the cost of producing and refining crude oil should form the basis for determining the price of petroleum products supplied to the domestic market.
He also criticised the impact of high petrol prices on households and businesses, arguing that expensive fuel increases transportation and operating costs and ultimately puts additional pressure on Nigerians.
Asked what he considered a realistic petrol price under his proposed administration, Duke said: “I will try and bring it to about 300 naira.”
The PRP candidate maintained that affordable and readily available fuel was essential to economic productivity.
“I’ve said several times that the function of government is to ensure the productivity of their citizens within a safe and orderly environment. Fuel drives your economy. It should be available. It should be affordable,” he said.
Duke’s proposal comes as fuel pricing remains a major economic and political issue ahead of the 2027 presidential election.
His proposed ₦300 per litre target is a campaign policy position and would depend on factors including crude production, refining costs, distribution expenses and the implementation of his proposed domestic pricing model.
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