Governor Makinde calls for disclosure of fuel pricing formula — Premium Times Nigeria

In Nigeria, Oyo State Governor and Alliance People’s Movement presidential candidate Seyi Makinde called on President Bola Tinubu to publish the formula used to set prices for petroleum products. According to Makinde, this would allow citizens to understand how retail fuel prices are determined.

As Premium Times Nigeria reports, the politician made the demand in Yola, Adamawa State, during a meeting of party representatives and candidates ahead of the 2027 general elections. According to Makinde, Nigerians should participate in discussions of state decisions, as the government exists for everyone, not only for people in power.

Petrol discount

The statement came amid rising petrol prices and federal measures aimed at reducing the burden on consumers. On Friday, the Nigerian National Petroleum Company, NNPC Limited, announced the extension of a petrol discount at its network of filling stations until October 31.

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The company introduced the discount on October 1 and explained that it was temporary relief for the population amid high global oil prices linked to the conflict in the Middle East. NNPC stressed that the decision does not mean the return of fuel subsidies and does not set a single petrol price across the country.

Criticism of government policy

Makinde also criticized the Tinubu administration’s policies, saying that its initiatives had not led to a significant improvement in the country’s situation. He questioned the effectiveness of measures concerning compressed natural gas, electric vehicles, the naira-for-crude oil exchange policy, security, and poverty reduction.

The politician promised that if he wins the 2027 elections, he will involve citizens in decision-making and form a transitional government of national unity with representatives from Nigeria’s six geopolitical zones.