2027: Adebayo Says He Will Produce 20 ‘New Dangotes’ First Term In Office If Elected President

By Akinwale Kasali

Adewole Adebayo, Social Democratic Party, SDP, Presidential Candidate, has pledged to boost the nation’s economic fortunes through export, and  support the refineries, as his administration would create “even 20 new Dangotes” in his first term in Office if elected in 2027.

Adebayo said this during a recent interview on Nigeria Info’s Road to 2027 programme, while outlining how he would lower petrol prices without undermining private refinery investment.

Speaking emphatically, Adebayo said his Government, in four years, will create even 20 Dangotes for exports; stating that this was the reason why God gave Nigeria a refinery by the water side.

Elaborating on his plan, the SDP Presidential Candidate said he would support refineries that export products and earn foreign exchange for Nigeria.

He also said his administration would offer refineries long-term tax rebates and regulatory certainty, in addition to 90 days to pay for government-supplied crude oil.

“When I sell crude to you, I give you 90 days to pay. That is twice your throughput. You will have refined the crude, ship it overseas, collect the dollar, then you pay me,” he said.

Adebayo added that refineries exporting their products would earn foreign exchange for Nigeria, while the government would ensure domestic consumers were not charged international prices.

“If your refinery is for the international market, I will support you domestically, but you will be exporting and earning foreign exchange for us. You are not going to sell petrol at international prices to a teacher who does not earn an international salary.”

He also said Nigeria’s four government-owned refineries would operate and that private refineries could receive domestic crude to serve the local market.

“So, what we are saying is that for our own domestic markets, we have our own four refineries; they are going to work. Secondly, if you, a private refinery, want to participate, we will give you the crude at zero cost because it is domestic crude,” he added.