Oyo State Governor and presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has criticised President Bola Ahmed Tinubu’s economic policies, questioning whether ordinary Nigerians can still afford three square meals a day.
Makinde particularly faulted the removal of the petrol subsidy and the floating of the naira, arguing that implementing the reforms simultaneously has worsened hardship across the country.
The governor made the remarks while speaking about the state of the Nigerian economy and the 2027 presidential election.
Makinde questions cost of living
Makinde questioned the government’s claim of economic stabilisation against the backdrop of the rising cost of basic necessities.
He asked how many Nigerians could currently afford three square meals daily, while also comparing the present cost of petrol with prices before the subsidy was removed.
The governor also questioned fluctuations in the foreign exchange market, arguing that movements in the value of the naira have continued to place pressure on households and businesses.
Makinde said Nigerians should assess the practical impact of government policies rather than simply celebrate changes in economic indicators.
Criticism of subsidy removal
The removal of the petrol subsidy, announced by Tinubu shortly after his inauguration in May 2023, has remained one of the administration’s most controversial economic decisions.
The government has maintained that subsidy removal was necessary because of the financial burden it placed on the country and the need to redirect public resources.
The naira’s exchange-rate regime was also significantly altered under the administration as part of efforts to unify the foreign exchange market.
However, critics have argued that the combined impact of the reforms has contributed to inflation and increased the cost of living.
Makinde said the reforms should have been implemented with greater consideration for their consequences on Nigerians.
Makinde seeks support for APM
The governor’s comments come as he campaigns for the APM ahead of the 2027 presidential election.
He has positioned himself as an alternative to the ruling All Progressives Congress and criticised the Tinubu administration’s economic direction.
Makinde’s comments are likely to become part of the wider political debate ahead of 2027, when economic hardship, food prices, fuel costs, jobs and purchasing power are expected to feature prominently in campaign discussions.