Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
Oyo State Governor Seyi Makinde has called for a comprehensive reset of Nigeria's economy and political order, declaring that the country's existing systems and institutions have failed to deliver meaningful improvements in the lives of the majority of Nigerians. Makinde made the call in his latest newsletter titled "The Business of Governance," where he argued that Nigeria's challenges go far beyond the individuals occupying public office at any given time.
The governor, who is also the presidential candidate of the Allied Peoples Movement for the 2027 election, said successive governments have introduced new policies and promised fresh beginnings, yet millions of Nigerians remain trapped in poverty, insecurity and limited economic opportunities. "Over the years, we have changed governments, introduced new policies and promised ourselves new beginnings. Yet, for millions of Nigerians, the fundamental outcomes have remained largely the same," Makinde said. "Too many of our people are still trapped in poverty. Too many families work hard without experiencing real progress. Too many young Nigerians are unable to see a clear path from education to opportunity."
Makinde stressed that the country's problems are rooted in systems, institutions and structures that continue to produce outcomes that do not serve the majority of Nigerians. "This tells us that Nigeria's challenge is bigger than the individuals occupying public office at any particular time. We must address the systems, institutions and structures that continue to reproduce outcomes that do not serve the majority of our people," he said. He described his proposed "Reset Nigeria" agenda as "a national movement to rebuild Nigeria's systems and institutions so that Nigeria works for every Nigerian."
Using petroleum pricing as an example, the governor argued that the national debate has been framed around whether petroleum products should be subsidised or sold at full market prices, but that the more important question should be what constitutes an appropriate petroleum pricing framework for an oil-producing country like Nigeria. He insisted that Nigerians should have access to the assumptions used in determining pump prices, including crude oil price benchmarks, refining costs and margins, exchange rate, logistics and distribution costs, taxes and levies. "These should be publicly accessible and sufficiently clear for Nigerians to interrogate the basis of the price they are paying and compare it with the alternatives," he said.
Makinde also rejected the argument that Nigerians should pay higher petroleum prices to eliminate the price differential that makes smuggling into neighbouring countries profitable, declaring that "Nigerians should not be made to bear the cost of government's inability to secure its borders." He said the details of his alternative approach to petroleum pricing would be presented in the coming weeks for Nigerians to assess. He stressed that a national reset would require both accountable leadership and active citizenship, adding that the process would not be an instant transformation or the responsibility of one individual. "It must be a deliberate national effort supported by a clear roadmap, measurable priorities and the sustained participation of Nigerians at home and abroad," Makinde said. The governor said he would continue to outline his views on resetting Nigeria's economy, security architecture, education system, institutions and social and political order.
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