Publish your fuel pricing formula, Makinde tells FG
Oyo State Governor and Allied Peoples Movement (APM) presidential candidate, Seyi Makinde, has challenged the Federal Government to publish the pricing formula behind its proposed 30-day fuel discount, insisting that Nigerians deserve transparency over how petroleum prices are determined.
Makinde made the demand on Saturday during the APM North-East 2027 Town Hall Meeting in Yola, Adamawa State, where he questioned the government’s approach to fuel price modulation.
The governor said the administration should make its calculations public to allow economists, industry experts and ordinary Nigerians to examine the figures and propose alternatives.
“Just release to Nigerians your pricing template: how you arrived at your figure, and let Nigerians they are not dumb look at your pricing templates, and if they have a better solution, they will present it,” he said.
Makinde criticised what he described as the assumption that government officials alone possessed the knowledge required to address Nigeria’s economic challenges.
“The fact that we’re in government or you’re in the [Presidential Villa] does not make you the only people with sense,” he said.
“In Nigeria, we have Nigerians who can dissect issues and proffer solutions. So please give us your pricing template, and we will make our input.”
His remarks followed the Federal Government’s announcement of a 30-day fuel discount programme, being implemented in partnership with the Nigerian National Petroleum Company Limited (NNPCL), to ease the financial burden of rising petrol prices.
The initiative has attracted criticism from opposition figures who argue that the temporary intervention raises questions about the government’s earlier decision to remove petrol subsidies.
Some critics have characterised the programme as a possible return to fuel subsidies through an alternative arrangement, while questioning its timing ahead of the 2027 general elections.
President Bola Tinubu removed the longstanding petrol subsidy shortly after assuming office in May 2023, a decision that significantly increased transport and living costs.
The administration has maintained that its economic reforms are intended to strengthen public finances and improve long-term economic stability.
Petrol prices have nevertheless remained a major concern for households and businesses, with pump prices reportedly reaching about ₦1,400 per litre amid international energy market pressures.
Makinde’s demand places renewed attention on the transparency of the government’s fuel pricing mechanism and whether the proposed discount can provide meaningful relief to consumers.