Oyo State Governor and African People’s Movement presidential candidate, Seyi Makinde, has said Nigeria is asking the wrong question in its ongoing debate over petrol subsidy.

Makinde made the statement in the September edition of his newsletter, The Business of Governance, where he argued that the country needs to review its petroleum pricing framework.

He said Nigerians should be able to understand how petrol prices are determined, including the crude oil benchmark, refining costs, margins, exchange-rate assumptions, logistics, distribution costs, taxes and levies.

According to him, transparency in these factors would help Nigerians assess whether the current pricing system is appropriate for an oil-producing country.

Makinde also rejected the argument that Nigerians should pay higher petrol prices simply to make fuel smuggling into neighbouring countries unprofitable.

He said Nigerians should not bear the cost of the government’s inability to secure the country’s borders.

The governor said the debate should therefore move beyond whether petrol subsidy should be restored or remain removed.

Instead, he argued that the focus should be on whether Nigeria’s pricing system allows citizens to derive a fair benefit from the country’s natural resources.

Makinde said he would present an alternative petroleum pricing framework in the coming weeks for Nigerians to examine and assess.

His position comes amid continuing public debate over petrol prices, subsidy policy and the impact of fuel costs on households and businesses across the country.