Former Cross River State Governor and presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has described Nigeria’s fuel subsidy debate as a “scam”, arguing that petrol could sell for about ₦200 per litre if the country properly harnesses the various products derived from crude oil.
Duke made the remarks amid renewed political controversy over petrol subsidy, following Atiku Abubakar’s proposal to restore a targeted subsidy if elected president in 2027.
The former governor questioned Nigeria’s approach to managing its crude oil resources and argued that the country should be benefiting more from the different products generated through the petroleum value chain.
According to Duke, Nigeria’s problem goes beyond the price of petrol at filling stations. He argued that the country needs to maximise the value of crude oil and its derivatives rather than repeatedly debating whether government should subsidise petrol.
Duke’s comments come at a time when Nigerians continue to grapple with elevated transportation and energy costs following the removal of petrol subsidy in 2023.
The former governor argued that Nigeria could achieve substantially lower petrol prices if the country developed its refining capacity and properly utilised the wider petroleum value chain.
His claim that petrol could sell for approximately ₦200 per litre represents his assessment of what could be achieved under a different approach to the petroleum sector, rather than the prevailing market price.
The subsidy debate has increasingly become intertwined with the 2027 presidential contest. Atiku has argued that government intervention is necessary to protect Nigerians from high fuel costs, while the APC has warned that returning to subsidy could reverse the economic gains it attributes to the Tinubu administration.
Duke’s position adds another dimension to the debate, as he argues that the fundamental problem is Nigeria’s failure to properly exploit the economic potential of its crude oil resources.