Fuel price will hit N5,000/litre under Tinubu – SDP’s Adebayo warns

The Social Democratic Party, SDP, statesmanlike candidate, Adewole Adebayo, has warned that substance prices volition soon deed N5,000 per litre if President Bola Tinubu secures a 2nd word successful the forthcoming 2027 wide elections.

This is contained successful a connection by his campaign’s Chief Communications Adviser, Comrade Mark Adebayo, on Wednesday.

The informing came pursuing a caller hike successful petrol prices that has pushed pump prices adjacent to N1,500 astatine immoderate filling stations successful parts of Nigeria.

He said the remark was owed to the absorption of the economical policies of the Tinubu administration, particularly the deregulation of the petroleum downstream assemblage and the continued floating of the naira.

The statesmanlike campaigner further stated that the continued depreciation of the naira could importantly summation the outgo of imported petrol due to the fact that the merchandise is priced successful US dollars.

According to him, a weaker naira would truthful construe into higher landing costs for fuel.

“If the speech complaint hits N3,500 to $1 successful the coming years, the landing outgo of substance unsocial volition transcend N4,000,” Adebayo said.

He argued that the existent economical absorption could spot further unit connected consumers, criticising the removal of petrol subsidies.