According to report by Vanguard on Monday, November 2, 2026, if elected president in 2027, Prince Adewole Adebayo of the Social Democratic Party (SDP) has promised to produce 20 more wealthy entrepreneurs similar to Aliko Dangote within four years.
To this end, Adebayo has pledged that his government will implement policies to boost the competitiveness of Nigeria’s private sector, promote exports, and back refinery operations.
He made the pledge while discussing his plans to lower gasoline prices and safeguard investments in privately held refineries on Nigeria Info’s Road to 2027 program.
His administration would create favorable conditions for refineries to increase output and sell refined petroleum products abroad, he said, so the country could earn more money.
“Our government in four years will create even 20 Dangotes for exports; that is why God gave Nigeria a refinery by the water side,” he stated.
Stable government regulations for refinery operators and long-term tax rebates were also proposed by the SDP candidate.
He announced a 90-day payment grace period for private refinery owners who bought crude oil from the state.
As Adebayo explained the plan, it would give refinery operators ample time to process the crude, ship out their finished goods, collect their foreign currency payments, and then pay off their debts to the government.
You have ninety days to pay for the crude that I sell you. Doubling your throughput is that. According to his explanation, once you refine the crude and send it overseas, you will receive payment in the form of a dollar.
Additionally, he insisted that Nigerians shouldn’t be compelled to pay foreign prices for gasoline when their earnings aren’t even close to matching those prices, even though the government would back refineries that aim for international markets.
Teachers and other domestic workers, he said, should be able to afford petroleum products.
Reviving Nigeria’s four state-owned refineries, which Adebayo said would be crucial to satisfying local demand, was another campaign pledge.
He went on to say that privately owned refineries that wanted to supply the American market could get their hands on crude oil from nearby sources at no extra cost.
According to the presidential candidate, the proposed policies would boost exports, encourage industrial growth, make fuel more affordable for Nigerians, and increase the country’s refining capacity.
COURTESY: Kofo_News
