Oyo State Governor, Seyi Makinde. Photo: Oyo State Government.
The presidential candidate of the Allied Peoples Movement and Oyo State Governor, Seyi Makinde, has rejected a return to fuel subsidy, advocating instead for domestic crude pricing as a way of reducing petrol costs for Nigerians.
Makinde, who stated this on Monday while speaking at the commissioning of the APM presidential campaign office in Abuja, explained that his proposal was not a call for the restoration of the old subsidy regime but for Nigerian crude supplied to domestic refineries to be priced in a manner that reflects the country’s status as an oil-producing nation.
On May 29, 2023, President Bola Tinubu announced the removal of fuel subsidy during his inauguration, fulfilling a key campaign promise.
The policy led to higher prices of goods and services, although the All Progressives Congress-led Federal Government has continued to argue that it has delivered substantial economic benefits.
