Former Kogi State Senator and member of Atiku Abubakar’s 2027 campaign team, Dino Melaye, has said Nigerians could see petrol prices fall to between ₦400 and ₦500 per litre if Atiku becomes president and implements his proposed fuel subsidy policy.
Melaye made the assertion during an interview on AIT monitored by The News Chronicle while defending the African Democratic Congress (ADC) presidential candidate’s promise to restore subsidy.
According to him, Atiku’s proposed intervention in the petroleum sector would significantly reduce the cost of petrol and ease the burden of high energy prices on Nigerians.
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Melaye argued that the current pump price of petrol has imposed significant pressure on households, businesses and the wider economy, insisting that Atiku’s proposed subsidy framework would reverse the trend.
He said an Atiku administration would pursue a policy that would make petroleum products more affordable, with petrol potentially selling within the ₦400–₦500 per litre range.
The claim comes amid renewed debate over fuel subsidy ahead of the 2027 presidential election, with Atiku maintaining that he would restore subsidy if elected.
Atiku has clarified that his proposal is not a return to the former import-based subsidy regime. His campaign says the proposed intervention would instead be tied to domestic crude production and refining, with crude supplied to qualifying Nigerian refineries at preferential prices and the benefit passed on to consumers.
Atiku had previously stated that his position on subsidy had not changed, saying he would restore it to reduce the pressure of fuel, transportation and food costs on Nigerians.
Melaye’s projection of a ₦400–₦500 petrol price, however, represents a specific estimate of the potential outcome of the proposed policy; the feasibility of achieving that price would depend on factors including crude pricing, refining costs, exchange rates, production volumes and the design and funding of the subsidy mechanism.
The News Chronicle reports that subsidy debate has increasingly become a major issue in the 2027 political contest, with Atiku presenting lower energy costs as part of his broader economic recovery agenda, while the Federal Government has defended the removal of subsidy and warned against returning to the previous system.
