•Sets out exchange rate, figures behind the price
Chuks Okocha in Abuja
Presidential candidate of the Accord Party, Dr Gbenga Olawepo-Hashim, has said his proposed ₦605 per litre petrol price is only the starting point of a broader energy policy that could eventually bring the price down to between ₦200 and ₦300 per litre.
Hashim, who has been campaigning on an energy security first agenda, said Nigeria could achieve cheaper petrol without returning to the opaque subsidy regime that existed before the 2023 reform.
The energy executive noted in a statement issued on Monday, that the fundamental question Nigeria should answer is not simply how much petrol sells for internationally, but how much it actually costs Nigeria to produce crude, refine it and deliver the finished product to Nigerian consumers.
