Presidential candidate of the Social Democratic Party, Prince Adewole Adebayo, has warned that the price of petrol could rise to as much as N5,000 per litre if President Bola Tinubu secures a second term in office. Adebayo attributed the projection to what he described as the direction of the federal government's economic policies, particularly the deregulation of the downstream petroleum sector and the continued floating of the naira. In a statement issued by his presidential campaign's Chief Communications Adviser, Mark Adebayo, the SDP candidate said the policies could push the Nigerian economy further into inflationary pressure. He argued that the continued depreciation of the naira would remain a major factor affecting the cost of imported petroleum products, which are priced in dollars.
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