Accord Party presidential candidate Dr. Gbenga Olawepo-Hashim has promised to support Dangote Refinery and other qualifying Nigerian refineries with access to locally produced crude at what he described as a strategic domestic price if elected president in 2027.
Hashim said the policy would give Nigerian refineries a cost advantage to compete in African and global markets while helping transform the country into what he described as a major global energy power.
He made the declaration at the weekend in Ilorin, Kwara State, during a Diaspora Dialogue on “Fuel Subsidy and the Politics of 2027,” anchored by Prof. Farooq Kperogi, Prof. Moses Ochonu, and Dr. Osmund Agbo.
Hashim said Nigeria’s crude oil should be used as the foundation for industrial development rather than being treated primarily as an export commodity.
“Nigeria has spent decades giving the world our crude and buying back the value created from it. Our Energy First policy will reverse that equation.
“Our crude is our strategic advantage. We will put that advantage behind Nigerian industry. Refining and petrochemical industries are a core part of our immediate industrialization strategy as we aim to be the world’s most reliable energy source,” he said.
The Accord candidate said Dangote Refinery and other qualifying domestic refineries would be allowed to access Nigerian crude under a strategic domestic pricing framework rather than compete solely on international crude economics.
“If the crude is Nigerian and the refinery is Nigerian, the Nigerian economy must capture the advantage.
“Our refineries will buy Nigerian crude at a strategic local price, not international crude economics, so they can produce competitively, expand aggressively and conquer international markets, starting first with the African region,” he said.
Hashim, however, said the proposed framework would not be designed to favour Dangote Refinery or any particular company.
“This is not a Dangote subsidy. It is a Nigerian industrial strategy.
“Dangote will benefit because it has invested at extraordinary scale. Other existing refineries will benefit. New refineries will benefit. Any Nigerian refinery that meets the required efficiency, transparency and performance standards will have access to the same framework.
“We are not creating one protected champion. We are going to create an army of Nigerian energy champions,” he said.
Plans 1m bpd refining capacity
