Donald Duke, presidential candidate of the Peoples Redemption Party, stated that he would reduce the price of petrol to about N300 per litre if elected president in 2027.
Duke made the pledge during an interview on Channels Television’s The Morning Brief. He discussed his plans for the petroleum sector and the wider economy.
Duke described the existing subsidy arrangement as a scam. He said petroleum products for local consumption should be priced at production costs rather than international market rates.
He explained that the cost of producing and refining petroleum stood at about 45 dollars per barrel. He added that the figure could drop to around 30 dollars without certain processing steps. Yet Nigerians paid based on higher international benchmarks.
Asked about a realistic pump price under his administration, Duke replied that he would aim for about 300 naira per litre. He stated, “I will try and bring it to about 300 naira. I’ve told you that it sounds so outlandish, but I’ve given you the arithmetic.”
Duke proposed setting aside part of the country’s crude oil output for domestic needs. He said, “Allocate 600,000 barrels if that’s what you consume daily. Allocate that to yourself. The other one million you can sell it.”
Duke stressed that fuel must remain available and affordable. He noted that high prices strained workers earning the basic minimum wage of 70,000 naira. Filling a tank alone could consume much of that income.
He stated, “I’ve said several times that the function of government is to ensure the productivity of its citizens within a safe and orderly environment. Fuel drives your economy. It should be available. It should be affordable.”
Duke served as governor of Cross River State from 1999 to 2007. He is seeking the presidency under the Peoples Redemption Party.
