Price At Which I Sell Crude On International Market’ll Be Different From The Nigerian Market–Amaechi

According to a report by Daily Post on Friday, October 9, 2026, African Democratic Congress (ADC) presidential running mate Rotimi Amaechi has said that the party’s presidential candidate, Atiku Abubakar, would introduce a production-based fuel subsidy if elected president in the 2027 general elections.

Amaechi explained that the proposed policy would prioritise domestic petroleum production and support local refineries rather than allow a small group of wealthy individuals to benefit disproportionately from government intervention. He said the initiative would be structured to strengthen Nigeria’s refining capacity and improve the domestic supply of petroleum products.

The former Minister of Transportation made the remarks during a town hall meeting in Edo State on Thursday, where he outlined the party’s proposed approach to fuel subsidy and crude oil pricing.

According to Amaechi, the plan would focus on supporting privately owned refineries and modular refineries operating across Nigeria. He explained that government assistance would be directed towards producers involved in refining petroleum products locally, with the objective of encouraging investment and reducing dependence on imported fuel.

He maintained that the proposed arrangement would differ from previous subsidy policies by concentrating on production instead of directly subsidising fuel consumption. Under the plan, local refiners would receive support through a framework designed to encourage domestic petroleum production and strengthen the industry.

Amaechi also discussed the proposed pricing structure, explaining that crude oil supplied to the Nigerian market would be priced differently from crude oil sold internationally. He said the government would establish a domestic pricing policy to support refining activities within the country.

Explaining the proposal, the ADC running mate said, “All the government will do is to make a policy. The price at which I sell crude on the international market will be different from the Nigerian market. We will do domestic pricing. What is domestic pricing?.”

He indicated that the difference between domestic and international crude oil prices would form an important part of the proposed production-based subsidy system under an Atiku-led administration.

Amaechi’s comments highlight the ADC’s proposed strategy for addressing Nigeria’s petroleum challenges through local production and targeted government support. The party believes that prioritising domestic refining could strengthen the petroleum industry and ensure that public resources support productive economic activities.

However, the proposed policy would require a clear implementation framework to determine how domestic crude oil prices would be set, which refineries would qualify for assistance and how the government would prevent abuse.

The proposal comes as petroleum pricing and domestic refining remain significant issues in Nigeria’s economic debate ahead of the 2027 presidential election.

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