“When I Sell Crude To You, I Give You 90 Days To Pay, That Is Twice Your Throughput–Adebayo

According to a report by Vanguard on Monday, November 2, 2026, Prince Adewole Adebayo, the Social Democratic Party (SDP) presidential candidate, has pledged that his administration would create as many as 20 successful entrepreneurs comparable to Aliko Dangote within four years if elected president in the 2027 general election.

He said his government would achieve this by strengthening the refining sector, encouraging private investments and expanding Nigeria’s export capacity.

Adebayo made the promise during an interview on Nigeria Info’s Road to 2027 programme, where he discussed his economic plans and strategies for reducing the price of petrol.

He explained that his proposed policies would make petroleum products more affordable while protecting private investors who have invested heavily in the country’s refining industry.

The SDP candidate maintained that Nigeria needed to develop more large-scale businesses capable of generating employment, increasing foreign exchange earnings and contributing significantly to economic growth.

According to him, supporting local refineries and creating favourable conditions for investors would help the country achieve these objectives.

He further disclosed that his administration would introduce long-term tax incentives for refinery operators to encourage expansion and improve production capacity.

He also promised to establish regulatory stability, explaining that investors needed clear and consistent government policies to make long-term business decisions without unnecessary uncertainty.

Adebayo equally proposed a flexible payment arrangement for crude oil supplied by the government to domestic refineries.

Under the arrangement, refinery operators would be given 90 days to settle payments for crude oil received, allowing them to process the products, export refined petroleum and generate foreign exchange before making payments to the government.

He explained that the proposed arrangement would provide refinery owners with sufficient financial flexibility to sustain their operations and increase production.

He argued that allowing investors to sell refined products internationally before settling their crude oil bills would strengthen their businesses and encourage additional investments in the sector.

“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.

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