Makinde Slams Fuel Subsidy Debate, Demands Transparent Pricing and Border Security Instead of Punishing Citizens

The presidential candidate of the African People’s Movement (APM) and Governor of Oyo State, Seyi Makinde, has intervened in the national controversy surrounding petrol subsidies, asserting that the country is focused on the wrong debate rather than fixing the fundamental pricing system.

Writing in the September edition of his governance newsletter, The Business of Governance, Makinde argued that the conversation should not be reduced to a binary choice between permanently removing subsidies or restoring them. Instead, he maintained that the primary inquiry ought to be establishing the right, equitable petroleum pricing framework suited for an oil-producing nation like Nigeria.

The governor maintained that citizens deserve total visibility into how retail fuel costs are calculated. He called for full public disclosure of all underlying assumptions and cost components, including crude oil benchmark valuations, domestic and offshore refining charges, profit margins, foreign exchange rates, transportation expenses, and statutory levies. Makinde noted that making this data publicly accessible is the only way Nigerians can understand what they are paying for and evaluate alternative pricing mechanisms.

Makinde also pushed back against the long-standing official argument that domestic fuel prices must remain elevated to disincentivize cross-border smuggling into neighboring countries. He insisted that border policing is a sovereign enforcement obligation, declaring that citizens must not be penalized at the fuel pump simply because state apparatuses struggle to secure the nation’s borders.

Framing his critique under his “Reset Nigeria” initiative, the governor observed that Nigeria’s recurring economic challenges point to structural and institutional failure rather than transient administrative turnover. Makinde revealed that his team will present a viable, detailed alternative pricing model in the coming weeks, urging the country to build an economic architecture where citizens derive tangible benefits from their own natural wealth.