Gbenga Hashim proposes domestic crude pricing to support Nigerian refineries

Accord Party presidential candidate Dr. Gbenga Hashim has proposed an ‘Energy First’ policy aimed at transforming Nigeria into a global energy power. Speaking at a Diaspora Dialogue in Ilorin, Kwara State, Hashim stated that under an Accord administration, Nigerian refineries, including the Dangote Refinery, would access crude oil at a strategic domestic price rather than international market rates.

Hashim argued that treating crude oil primarily as an export commodity has been a major economic mistake. By implementing a domestic pricing framework, he claims local refineries would gain a cost advantage to compete in sub-regional markets. His platform also includes plans to reach a refining capacity of one million barrels per day through direct and joint venture investments, with a goal of reducing petrol prices to N605 per litre.