Petroleum pricing in Nigeria requires an immediate overhaul to protect citizens from being penalised for the federal government’s failure to secure the nation’s land and sea borders, according to Seyi Makinde, governor of Oyo State. Speaking at a public event in Ibadan, Makinde stated that the public is unfairly bearing the financial burden of systemic security lapses that allow subsidised and domestically refined petrol to be illegally transported out of the country.
The governor emphasised that the current pricing model, which routinely shifts the financial consequences of border leakage onto everyday consumers, is both unjust and economically unsustainable. According to Makinde, when the federal government fails to curb illegal transborder trade, the resulting artificial scarcity and cost inflation trickle down directly to Nigerian households. Instead of continually raising pump prices to offset these losses, he urged the administration to address the root cause by tightening border surveillance and holding anti-smuggling agencies accountable.
The call comes amid heightened public debate over energy costs, the removal of fuel subsidies, and the overall trajectory of Nigeria’s oil sector regulation. Petroleum pricing in Nigeria has long been a flashpoint, with sudden cost spikes driving up transport fares, food inflation, and the general cost of living across all 36 states. Makinde noted that while policy reforms are necessary to achieve long-term economic stability, they must be paired with operational efficiency and strong governance. Expecting citizens to pay premium prices while border patrol failures remain unaddressed, he argued, erodes public trust in government policies. Related News NCGC unlocks N46.95bn credit for 67,512 borrowers Champions League: Carrick confident Man United can compete with Europe's best Angola targets global investors with $18.6bn local bond market opening
