Toyyibat Qasim
Presidential candidate of the Peoples Redemption Party, Donald Duke, has promised to reduce the pump price of petrol to about ₦300 per litre if elected President in the 2027 presidential election.
Duke, a former Governor of Cross River State, said the proposed price reduction would be achieved by allocating a portion of Nigeria’s crude oil production for domestic consumption and pricing petroleum products based on the cost of production rather than international market prices.
He disclosed this on Wednesday while appearing on Channels Television’s The Morning Brief.
According to him, Nigeria should reserve enough crude oil for domestic consumption while selling the balance on the international market to generate foreign exchange.
“I will try and bring it to about ₦300. It sounds so outlandish, but I have given you the arithmetic because if you allocate 600,000 barrels, if that is what is consumed daily, allocate that to yourself; the other 1,000,000 you can sell,” Duke said.
His proposal comes against the backdrop of the Federal Government’s removal of petrol subsidy, a policy that has significantly altered the pricing of petroleum products and triggered intense public debate over the cost of living.
‘I Won’t Inherit Tinubu’s Policies’
The PRP candidate also declared that he would not continue with the economic policies of President Bola Tinubu if elected in 2027.
Duke argued that Nigeria’s petroleum pricing policy should prioritise the welfare and purchasing power of Nigerians rather than exposing consumers to international market prices.
“I won’t inherit his policies; you know, for me, productivity is everything, as I said, within a safe and orderly environment,” he said.
He described the subsidy regime debate as a complex issue that should be addressed by examining Nigeria’s actual production and refining costs.
Duke said petroleum products meant for Nigerians should be sold at production cost, insisting that it was unreasonable to charge citizens based on international prices when the crude oil was produced domestically.
“The subsidy regime thing, this whole scam…I’m going to price petroleum products for local consumption at production cost, not at the international market because that’s so far rigid,” he said.
He argued that the cost of producing and refining petroleum was substantially lower than the international price at which the products could ultimately be sold.
Duke further questioned how low-income Nigerians could cope with high petrol prices, particularly with the current minimum wage.
“The basic minimum wage is ₦70,000; will your salary go in just filling a tank of fuel or some fuel? So, we have got to look at it,” he said.
Duke Links Kidnapping, Banditry To Economic Crisis
The former governor also linked the worsening insecurity across the country to what he described as a collapse in the Nigerian economy.
Duke argued that kidnapping, banditry and other forms of criminality should not be viewed only as security problems, but also as symptoms of deeper economic and social pressures.
“If your family member is kidnapped, you will do everything you can to get them out. The point is, how did we get there?” he asked.
Comparing Nigeria’s economic situation over the decades, Duke said the country’s population had expanded dramatically while the real value of government spending had failed to keep pace with the growing population.
He recalled that Nigeria’s population in the 1980s was significantly lower than it is today, arguing that the country’s economic resources had not grown proportionately.
“Forty-six years after, our population is about 230 million, they say. Our budget is still in the 20s; forget the trillion they mention, so the real value has come down,” he said.
According to him, the widening gap between population growth, economic opportunities and government resources has created conditions in which more Nigerians struggle to survive.
“What you are seeing is the symptoms of a collapsed economy,” Duke said.
He added that the economic pressures had contributed to the growth of criminal activities, including kidnapping and banditry.
“People will do whatever they can to survive, so there is banditry, kidnapping, all those things,” he said.
2027: Duke Demands Presidential Debate
Meanwhile, Duke has challenged presidential candidates in the 2027 election to participate in a robust public debate on their policies and plans for Nigeria.
He said Nigerians deserved the opportunity to hear the candidates explain how they intended to tackle the country’s economic, security and developmental challenges.
“My desire is to get the conversation driven to where, in particular, it is instrumental to our thinking. I will like us to have a debate, for instance, a very robust debate, and I’m going to be calling for this where all the candidates speak,” he said.
Duke’s call comes as political parties and presidential hopefuls begin positioning themselves ahead of the 2027 general election, with the economy, insecurity, fuel pricing, unemployment and the cost of living expected to dominate the campaign discourse.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
