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Makinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Oyo State Governor Seyi Makinde criticized President Bola Tinubu's economic reforms, including fuel subsidy removal and naira float, as detrimental to Nigerians.
  • Makinde argued these policies, implemented without cushioning measures, have worsened the cost of living and foreign exchange rates.
  • He rallied support for the Allied Peoples Movement (APM) for the 2027 elections, promising to alleviate suffering and reset Nigeria's economy and security.

Oyo State Governor Seyi Makinde has sharply criticized President Bola Tinubu's economic policies, labeling the simultaneous removal of fuel subsidy and floating of the naira as a "double blow" to Nigerians' welfare. Speaking at an event in Abeokuta to unveil candidates for the 2027 elections, Makinde, represented by a party leader, argued that no nation could withstand such "twin economic shocks" without adequate support measures.

How can a person just decide one day that he will remove the fuel subsidy without any cushioning effect or any palliative to fill the gap? At the same time, they still went ahead and floated the naira.

— Seyi MakindeCriticizing the economic policies of the current administration.

"How can a person just decide one day that he will remove the fuel subsidy without any cushioning effect or any palliative to fill the gap? At the same time, they still went ahead and floated the naira," Makinde stated. He questioned the administration's economic performance, highlighting the soaring cost of living and volatile exchange rates. "Now, how many people can take three square meals a day?" he asked, contrasting current fuel prices and exchange rate fluctuations with previous levels.

These two policies have further made life difficult for Nigerians. It is an economic policy that no nation, even advanced countries, can take at the same time.

— Seyi MakindeDescribing the impact of fuel subsidy removal and naira float.

The governor also touched upon the deteriorating security situation, lamenting that Nigerians can no longer "sleep with their eyes closed." He urged citizens to support the Allied Peoples Movement (APM), which he described as a party "ready to alleviate the suffering of the masses." Makinde promised that APM would "reset Nigeria in terms of everything: economy, security-wise," drawing a contrast with the past when he claimed people could sleep soundly.

Now, how many people can take three square meals a day? How much were we buying fuel for before? How much is it now? They said they have stabilized the exchange rate… from how much to how much? And it will go up to ₦1,500, coming back to ₦1,300, and they will be clapping and praising themselves. Who does that?

— Seyi MakindeQuestioning the administration's economic performance and exchange rate management.

Makinde pointed to the infrastructure and development achievements under the PDP administration in Oyo State as evidence of APM's governance capabilities. He asserted that the party possesses a blueprint for effective leadership and aims to rescue Nigerians from "unnecessary sufferings and hardship."

The purpose of today’s gathering is for the people to now come together, to now see for themselves that truly APM is grounded in Ogun State. That’s the message.

— Seyi MakindeExplaining the objective of the event for the Allied Peoples Movement.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.