Oyo State Governor and presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has criticised the economic reforms introduced by President Bola Tinubu’s administration, saying the simultaneous removal of fuel subsidy and floating of the naira have worsened the hardship faced by millions of Nigerians.
Makinde said implementing both policies at the same time without putting adequate measures in place to cushion their impact amounted to a major economic shock that has made life more difficult for ordinary citizens.
The governor made the remarks on Monday in Abeokuta, Ogun State, during the unveiling of the APM deputy governorship candidate, Mrs Deborah Abosede Akinlade, as well as the party’s candidates for the Ogun State House of Assembly and the National Assembly ahead of the 2027 general elections.
Makinde was represented at the event by a national leader of the party, Mr Babatunde Tijani.
The governor used the occasion to rally support for the APM, urging party members and supporters to begin grassroots mobilisation across Ogun State in preparation for the 2027 elections.
He said the APM was determined to provide what he described as a credible alternative capable of addressing the country’s economic and security challenges.
According to Makinde, no country, including advanced economies, could successfully implement the removal of fuel subsidy and the floating of its national currency at the same time without serious consequences for citizens.
“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,” he said.
“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.”
President Tinubu announced the removal of fuel subsidy shortly after assuming office in May 2023, saying the policy had become unsustainable and was draining public finances. The administration also adopted a market-driven foreign exchange policy, allowing the naira to float freely against other currencies.
The Federal Government has maintained that the reforms, though painful, are necessary to stabilise the economy, attract foreign investment and eliminate long-standing distortions in the country’s fiscal and foreign exchange systems.
However, the reforms have also been accompanied by rising fuel prices, higher transportation costs, increased inflation and a sharp increase in the prices of food and other essential goods, leading to widespread public concern over the rising cost of living.
Speaking on the impact of the reforms, Makinde questioned the Federal Government’s claims that the economy had improved.
He said many Nigerians were struggling to afford basic necessities, including food.
“Now, how many people can take three square meals a day? How much were we buying fuel for before? How much is it now?” he asked.
The governor also criticised the government’s handling of the foreign exchange market, saying the fluctuating value of the naira did not reflect the level of economic stability being claimed by officials.
“They said they have stabilised 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?” he asked.
Beyond the economy, Makinde expressed concern over the country’s security situation, saying insecurity had continued to affect many parts of Nigeria.
He argued that Nigerians no longer enjoy the level of safety they once experienced.
“Before now, you could sleep with your two eyes closed, but things have changed,” he said.
According to him, restoring security and improving the economy would be among the priorities of the APM if elected into office.
Makinde said the purpose of the Abeokuta gathering was to demonstrate that the party had become firmly established in Ogun State ahead of the next general elections.
“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,” he said.
He disclosed that party members had already been directed to begin intensive mobilisation across local government areas and wards in the state.
“We have told our people on the ground to begin massive mobilisations across local governments and the wards, just to tell the people that they are in a new party to rescue Nigerians from unnecessary sufferings and hardship,” he added.
Makinde said the APM was committed to rebuilding the country by introducing policies that would improve the welfare of Nigerians.
“This is a party that is ready to alleviate the suffering of the masses. And the message is that we have to reset Nigeria in terms of everything: economy, security-wise,” he said.
The governor also highlighted what he described as the achievements of his administration in Oyo State, saying the progress recorded in infrastructure development and governance demonstrated the capacity of the party to deliver at the national level.
Although Makinde currently serves as governor under the Peoples Democratic Party (PDP), he used the event to promote the APM’s political agenda and urged members of the party in Ogun State to remain united.
He called on party leaders, candidates and supporters to work together to strengthen the party’s structures across the state and prepare for victory in 2027.
Makinde also appealed to voters to support the APM’s candidates at all levels, saying the party was determined to provide better leadership and improve the lives of Nigerians.
Also speaking at the event, the APM governorship candidate for Ogun State, Rotimi Babajide, urged residents not to sell their votes during the elections.
He said vote buying had continued to undermine Nigeria’s democratic process and appealed to voters to support candidates based on competence and integrity rather than financial inducements.
Babajide described the APM as a credible alternative to the ruling APC, insisting that the party was committed to good governance, accountability and people-centred development.
He said Ogun residents should seize the opportunity presented by the 2027 elections to elect leaders who would prioritise the welfare of the people over political interests.
The unveiling of the deputy governorship, House of Assembly and National Assembly candidates marks the beginning of the party’s preparations for the 2027 elections in Ogun State, as political parties continue to reposition themselves ahead of the polls.
The event also reflects the growing political activities across the country, with parties intensifying consultations, mobilising supporters and presenting candidates as the race for the 2027 general elections gradually gathers momentum.