ABUJA — Former Cross River State Governor and Peoples Redemption Party (PRP) presidential hopeful, Donald Duke, has made a bold economic pledge ahead of the 2027 general elections, promising to crash the pump price of petrol to approximately ₦300 per litre.
Speaking during a media appearance on Channels Television’s The Morning Brief, Duke dismissed the current petroleum pricing framework and the ongoing subsidy discourse as a “scam”, arguing that it places an unbearable burden on ordinary citizens.
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Core Highlights of Duke’s Proposal:
- Local Cost Pricing: Duke maintained that petroleum products meant for domestic consumption should be priced strictly at local production and refining costs rather than being tied to volatile international market benchmarks.
- The Arithmetic: Citing an estimated total production and processing cost of roughly $45 per barrel, he argued that selling refined products back to citizens at exorbitant international rates is unjust.
- Dedicated Crude Allocation: To make the ₦300 target viable, Duke proposed carving out a specific daily volume of crude oil (such as an estimated 600,000 barrels) exclusively for domestic use, while exporting the balance.
- Relief for Workers: Criticizing the current economic strain, he noted that with the national minimum wage pegged at ₦70,000, an average worker’s entire salary is rapidly depleted just by filling a single tank of fuel.
Duke acknowledged that his proposition might sound “outlandish” to critics accustomed to deregulation and subsidy-free market pricing, but insisted that his mathematical breakdown offers a realistic blueprint to cushion the poorest citizens from compounding economic hardships.
