Presidential candidate of the Accord Party, Gbenga Olawepo-Hashim, has promised that Nigerians will not pay more than ₦605 per litre for petrol under an Accord administration if elected in 2027.
He said ₦605 would be the starting sustainable price, while the pump price could eventually fall to between ₦200 and ₦300 per litre if Nigeria reduces production costs and achieves exchange-rate stability.
Olawepo-Hashim, who has opposed the removal of petrol subsidy, said the proposed price would not depend on an artificial subsidy or reduce government revenue and FAAC allocations.
He called for an independent forensic audit of the petroleum value chain, covering crude production, contracting, refining, transportation, storage, insurance, pipelines and distribution, to establish the actual cost of delivering petrol to Nigerians.
He argued that Nigeria should not simply pass high production and operating costs to consumers without first investigating inefficiencies, inflated contracts, corruption and other factors contributing to petrol prices.
The Accord candidate also proposed accelerated domestic refining, greater transparency in the petroleum sector and measures to reduce waste and leakages.
He said his proposed ₦200–₦300 price should be viewed as a medium-term possibility, dependent on lowering production costs and achieving his proposed exchange-rate target, rather than an immediate promise.
Olawepo-Hashim said the goal was not simply cheaper petrol but an economy where affordable energy, increased production and stronger government revenue support one another.