SDP's Adebayo warns petrol may hit ₦5,000 if Tinubu wins second term

Presidential candidate Adewole Adebayo of the Social Democratic Party warned on Wednesday that petrol could climb to ₦5,000 per litre if President Bola Tinubu wins a second term. He linked the projection to the Federal Government's deregulation of the downstream petroleum sector and the floating of the naira, noting that Nigeria's reliance on imported petrol priced in US dollars means a weaker naira directly raises fuel costs. Adebayo said if the exchange rate reaches ₦3,500 to a dollar, the landing cost of petrol alone could exceed ₦4,000 per litre, and added that high interest rates, port bottlenecks and distribution expenses would push the pump price even higher. He argued that the removal of fuel subsidies leaves consumers exposed to global crude oil price swings, and that higher transport costs would raise the price of food and other essentials. The statement, issued by his campaign's Chief Communications Adviser Mark Adebayo, frames the warning as a mathematical outcome of current policy direction.

SOURCE: https://dailypost.ng/2026/09/16/adebayo-warns-petrol-could-hit-n5000-under-tinubu/