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Makinde Rejects Fuel Subsidy, Proposes Cheaper Domestic Crude Pricing

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Oyo State Governor and Allied Peoples Movement presidential candidate, Seyi Makinde, has rejected calls for a return to petrol subsidy, proposing instead that crude oil supplied to Nigerian refineries should be priced more affordably.

Makinde said the approach would reduce the cost of petrol for Nigerians without returning to what he described as the old subsidy system.

He made the remarks on Monday while speaking at the commissioning of the APM presidential campaign office in Abuja, where he outlined elements of his “Reset Nigeria” agenda.

 

Makinde: Domestic Crude Should Reflect Nigeria’s Oil-Producing Status

Makinde questioned why crude oil supplied to refineries in Nigeria should be priced as though it had been imported from abroad.

According to him, Nigeria’s status as an oil-producing country should be reflected in the price at which crude is supplied for domestic refining.

He argued that any benefit from Nigeria’s crude resources should be built into the petroleum pricing system from the beginning rather than introduced through interventions at the petrol pump after other costs and inefficiencies have accumulated.

 

‘I Am Not Calling for Fuel Subsidy’

The governor stressed that his proposal should not be interpreted as an attempt to restore the former petrol subsidy regime.

Instead, he advocated a pricing framework in which locally produced crude supplied to domestic refineries is made available at a price that can help lower the final cost of refined petroleum products.

He also called for greater transparency throughout the petroleum value chain, from crude production and domestic allocation to refining, transportation, distribution, taxes and retail margins.

 

Makinde Rejects Atiku’s Subsidy Proposal

Makinde’s position comes after former Vice-President Atiku Abubakar, who is also seeking the presidency in 2027, pledged to restore fuel subsidy if elected.

Atiku has argued that reinstating the subsidy would help reduce the financial burden created by the removal of the policy in 2023.

President Bola Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023, a move that resulted in a sharp increase in petrol prices and contributed to higher transportation and living costs.

Makinde, however, said the focus should instead be on addressing the pricing structure that determines the cost of petrol.

 

Governor Calls for Transparency in Petroleum Sector

The APM presidential candidate said Nigerians should be able to understand how the final price of petrol is determined.

He argued that citizens should know what they are paying for, who receives payments across the value chain and where inefficiencies are increasing the eventual pump price.

Makinde said his proposed Reset Nigeria agenda would seek to make government decisions and the use of public resources more transparent and accountable.

 

Makinde Defends 2027 Presidential Bid

Addressing concerns about the strength of his presidential campaign, Makinde said he had previously faced doubts when he contested the Oyo State governorship.

He argued that political observers who underestimate his campaign are also underestimating millions of Nigerians who want changes in the way the country is governed.

The governor called on Nigerians to participate in his proposed “Reset Nigeria” conversation by contributing ideas and challenging policy proposals ahead of the 2027 election.

 

What Makinde’s Proposal Could Mean

Makinde’s proposal represents a different approach to reducing petrol prices from a conventional fuel subsidy.

Rather than having government compensate suppliers or consumers for part of the cost after the pricing process, his proposal focuses on the upstream cost of crude supplied to domestic refineries.

If implemented, such a framework would require clear rules on domestic crude pricing, refinery costs, transportation, taxes, margins and other components that determine the final pump price.

For now, the proposal remains a campaign policy position, not an existing federal government policy.

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Atiku Accuses APC Government of Pushing More Nigerians Into Poverty

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Former Vice President Atiku Abubakar has criticised the All Progressives Congress (APC)-led Federal Government, accusing the administration of worsening poverty and economic hardship across Nigeria.

Atiku made the remarks in a statement published on Thursday, October 1, 2026, where he questioned the economic direction of the country under the APC government.

The African Democratic Congress (ADC) chieftain argued that the administration’s economic policies had placed additional pressure on households and businesses, making it increasingly difficult for many Nigerians to meet their basic needs.

He maintained that government claims of economic progress should be measured against the living conditions of ordinary citizens rather than financial and economic statistics alone.

Atiku Questions Government’s Economic Performance

The former vice president has repeatedly criticised the Federal Government’s handling of the economy, particularly the removal of fuel subsidies and foreign exchange reforms.

In previous remarks, Atiku argued that rising petrol prices had increased transportation, production and food costs, leaving households with reduced purchasing power. He also called on President Bola Tinubu to consider measures that would ease the cost-of-living burden. (Channels Television)

He has also challenged the administration’s reliance on macroeconomic indicators to demonstrate progress, insisting that economic reforms should translate into improved living standards for Nigerians. (The Guardian)

Atiku’s latest criticism comes as political parties and their candidates continue preparations for the 2027 general elections, with the economy expected to remain a major issue in political discussions.

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2027 Election Will Be Decided by Nigerians, Not Billionaires – Makinde

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The presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has said the outcome of the 2027 presidential election will be determined by Nigerian voters rather than wealthy individuals or the amount of money spent on campaigns.

Makinde made the statement on Monday at the APM North-Central Zonal Town Hall Meeting in Lafia, Nasarawa State, as part of the party’s engagements ahead of the 2027 election.

The Oyo State governor, who is campaigning under the “Reset Nigeria” agenda, said he did not believe the election would be decided by political commentators, opinion polls, the number of billionaires supporting candidates or the financial resources available to political campaigns.

According to him, the people of Nigeria would ultimately determine who emerges from the election.

Makinde also criticised the Federal Government’s handling of the economy, arguing that increased allocations to states had not necessarily translated into reduced hardship for citizens.

He acknowledged that states were receiving more money from the Federation Account but questioned whether the additional funds had resulted in meaningful progress in addressing hunger and other economic challenges.

The governor also spoke about Nigeria’s security situation, questioning the budgetary planning behind the establishment of additional army divisions. He said he had examined the 2026 budget for provisions relating to the new formations but could not identify the funding he expected for them.

Makinde outlines ‘Reset Nigeria’ agenda

The APM presidential candidate said his proposed “Reset Nigeria” programme would focus on four major areas: security, education, the economy and the country’s socio-political environment.

He said the programme could be implemented within four years if he becomes president, including changes to Nigeria’s security architecture and greater use of data and science in economic management.

Makinde further said his administration would commence a transition to a government of national unity from May 29, 2027, which he said would eventually lead to what he described as “new players and a new agenda” for Nigeria’s development.

The Lafia meeting formed part of the APM’s zonal consultations and political engagements ahead of the 2027 presidential election.

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“Nigeria Has Finished Making Sacrifices, Things Will Get Better Soon” — Tinubu

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President Bola Tinubu has urged Nigerians not to lose hope in the country, assuring citizens that Nigeria is on the right path toward economic recovery, peace and sustainable development.

Tinubu made the remarks on Friday, September 25, 2026, during a special Juma’at prayer service at the National Mosque in Abuja, organised as part of activities marking Nigeria’s 66th Independence Anniversary. The President was represented at the event by the Speaker of the House of Representatives, Tajudeen Abbas.

According to Tinubu, his administration is addressing what he described as the “cumulative mistakes and missed opportunities” of previous governments. He said Nigerians had already endured the necessary sacrifices and that there was now “light at the end of the tunnel.”

“Nigerians have finished making sacrifices for this country to be great again.”

He further assured citizens that “peace is coming back to this country” and “development is coming back to this country,” adding that things would get better as Nigeria progresses in its democracy.

Tinubu also called for continued support for his administration, saying Nigerians should give the government more opportunity to complete the reforms and programmes it has begun.

Bola Tinubu’s remarks come as Nigerians prepare to mark the country’s 66th Independence Anniversary, with economic hardship, security and the effects of ongoing reforms remaining major issues in the national conversation.

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