According to a report by The Daily Post on Wednesday, September 16, 2026, Social Democratic Party presidential candidate, Adewole Adebayo, has warned that petrol prices could climb as high as N5,000 per litre should President Bola Tinubu win a second term in the 2027 general elections.
The warning was contained in a statement issued on Wednesday by his campaign’s Chief Communications Adviser, Comrade Mark Adebayo, coming shortly after another round of pump price increases pushed petrol close to N1,500 per litre in some parts of the country.
According to the statement, the projection is tied directly to the economic policies currently being pursued by the Tinubu administration, particularly the deregulation of the downstream petroleum sector and the sustained floating of the naira.
Adebayo argued that the continued weakening of the naira poses a serious threat to fuel affordability, noting that since petroleum products are priced in dollars, a falling currency automatically drives up the cost of importation.
“If the exchange rate hits N3,500 to $1 in the coming years, the landing cost of fuel alone will exceed N4,000,” Adebayo said, stressing that this would push retail prices even further beyond the reach of ordinary Nigerians.
He also faulted the removal of the petrol subsidy, saying it has left Nigerians directly exposed to fluctuations in the global oil market.
Adebayo warned that any spike in international crude prices would almost certainly be transferred straight to consumers at the pump, with little cushioning from the government.
The SDP candidate’s comments add to growing concerns from opposition figures over the economic direction of the current administration, particularly as Nigerians continue to grapple with rising costs of living ahead of the 2027 election cycle.
SOURCE: Globalpen