Presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has said Nigeria can significantly reduce the cost of petrol by taking advantage of its crude oil resources and pricing domestic crude based on production costs.
Duke, a former governor of Cross River State, made the proposal while speaking on Channels Television’s The Morning Brief ahead of the 2027 presidential election.
He said an administration led by him would work towards bringing the price of petrol down to about ₦300 per litre, arguing that affordable energy is essential to improving productivity and reducing the cost of living.
Asked what he considered a realistic petrol price under his administration, Duke said, “Try and bring it to about ₦300.”
He argued that fuel should be readily available and affordable because of its importance to economic activities.
“I’ve said severally 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 has previously argued that Nigeria should not price the crude oil allocated for domestic refining strictly according to international market prices.
According to him, the crude required for domestic consumption should instead be made available at the cost of production, with the other products derived from crude oil sold commercially.
He said such an approach could make it possible to bring petrol prices within the range of ₦200 to ₦300 per litre without returning to the conventional subsidy system.
The PRP candidate described Nigeria’s energy resources as one of its major economic advantages, arguing that the country should use its natural resources to stimulate production and reduce pressure on businesses and households.
He also criticised the idea of comparing Nigeria’s domestic energy prices directly with those of other countries, saying Nigeria should develop pricing policies based on its own resources and economic circumstances.
Duke’s proposal comes amid continued concerns over the impact of high petrol prices on transportation, food prices, businesses and household expenses. Petrol prices have remained a major component of Nigeria’s cost-of-living crisis, with recent increases in wholesale prices adding further pressure to consumers.
Beyond fuel pricing, Duke said the 2027 election should focus on establishing a clear national direction rather than simply removing the All Progressives Congress (APC) from power.
He said opposition parties seeking to challenge the ruling party must first agree on what they want to achieve for Nigeria.
“The objective shouldn’t be to move the APC and replace it with another person. First of all, the real objective is: where are we taking Nigeria to? We must have a common vision,” he said.
Duke also expressed doubts about the credibility of the electoral process, saying the Independent National Electoral Commission (INEC) must convince Nigerians that the 2027 elections will be free and fair.
