Oyo State Governor and presidential candidate of the Allied Peoples Movement, Seyi Makinde, says his approach to easing petrol prices would focus on how crude oil is supplied to domestic refineries rather than restoring the former fuel subsidy regime.

Speaking on Monday at the inauguration of his campaign office in Abuja, Makinde said Nigerians should derive a direct and measurable benefit from the country’s oil resources without relying on interventions whose costs may be difficult to track.

Under his proposal, locally owned refineries would have access to crude at a preferential price, with the benefit reflected at the point of supply. He argued that this would provide a more direct way of supporting domestic refining and reducing pressure on consumers.

Makinde said the proposal was not a return to the previous subsidy system, which he described as lacking transparency. Instead, he wants the advantage of Nigeria’s crude resources incorporated into the pricing structure before refined products reach the market.

The governor said the arrangement could also help ensure that oil-producing communities and other Nigerians benefit more visibly from the nation’s petroleum resources. His position comes amid continuing public concern over petrol prices and the wider impact of energy costs on household and business expenses.

Makinde maintained that putting the benefit into the initial crude supply price could reduce the distortions associated with adding costs throughout the refining and distribution chain before government intervention is introduced at the pump.

The proposal is now part of the economic position being presented by the APM presidential candidate as preparations for the 2027 election gather momentum. He says the objective is to create a system where Nigeria’s oil resources translate into measurable benefits for Nigerians while encouraging domestic refining.