Oyo State Governor, Seyi Makinde, has criticised the Federal Government’s economic reforms, arguing that rising poverty and worsening living conditions should be key factors in assessing President Bola Tinubu’s performance ahead of the 2027 general elections.
Makinde said Nigerians should judge leadership by its impact on citizens rather than relying solely on improvements in economic indicators. He maintained that a president’s first term should give voters enough evidence to determine whether the administration deserves another mandate.
The governor stated this in a newsletter released on Thursday, where he compared his administration’s approach to governance in Oyo State with the Federal Government’s economic policies under Tinubu.
While acknowledging the economic arguments behind petrol subsidy removal and the adoption of a more flexible foreign exchange regime, Makinde insisted that the effects of such policies on ordinary Nigerians must also be considered.
“Policies tell you what a government wants to change. The order in which it chooses to make those changes tells you how that government thinks,” he said.
He added that limited public resources require leaders to make difficult choices about priorities, the timing of policies and the people who bear the costs of government decisions.
Reflecting on his administration’s record since taking office in 2019, Makinde said his government prioritised the regular payment of workers’ salaries and pensions, as well as the settlement of inherited gratuity arrears, while continuing to develop infrastructure.
He explained that Oyo State’s development agenda focused on the economy, education, healthcare and security, stressing that his administration chose to meet its obligations to workers and pensioners rather than delay their entitlements in favour of infrastructure projects.
“Instead of choosing between paying people and building infrastructure, we chose to do both. We paid salaries consistently. We regularised pension payments. We began clearing inherited gratuity arrears,” he said.
Makinde disclosed that personnel costs accounted for about 70 per cent of Oyo State’s federal receipts during the four-year period under discussion. He said his administration consequently explored alternative financing arrangements to support infrastructure development.
One of the mechanisms adopted was the Alternative Project Funding Approach, through which contractors financed selected projects upfront while the state government repaid the costs over an agreed period.
According to the governor, the arrangement enabled the state to pursue infrastructure development while meeting its financial obligations to workers and pensioners.
Turning to the national economy, Makinde argued that reforms should be assessed not only by their effects on macroeconomic stability but also by whether they improve employment opportunities, household incomes and living standards.
“Reform is not only about fixing the numbers. It is also about how people survive the transition,” he said.
The governor claimed that Nigeria’s poverty rate increased from about 56 per cent in 2023 to approximately 62 per cent in 2026, representing an estimated 23 million additional people living in poverty.
He noted that although the Federal Government had cited assessments by the World Bank and the International Monetary Fund pointing to improvements in macroeconomic stability, he believed the gains had not translated sufficiently into better living conditions for most Nigerians.
“These 23 million are not just numbers. They are our parents, neighbours, friends and children. Macroeconomic stability has not translated at the same pace into jobs, lower poverty and improved living standards for the majority of Nigerians,” he said.
Makinde added that the Federal Government must take responsibility for the social consequences of its economic policies, insisting that reforms should protect citizens’ ability to earn a living and contribute to economic growth.
He argued that governments must pursue structural economic changes while introducing measures that help people withstand the immediate effects of those changes.
“For me, leadership must be able to think about two things at once: what structural change does the economy need? And how do we protect people’s ability to live, work and produce while we make that change?” he said.
The governor maintained that Nigerians had the right to reject an administration after its first term if its policies failed to deliver the results they expected.
“And if, after four years, a leader has not been able to make those choices work for the people, Nigerians have every right to say: let us try someone else,” he said.
He also linked his position to proposed institutional reforms, arguing that a single presidential term could be sufficient to initiate significant changes across key sectors if the administration had a clear agenda and measurable targets.
Makinde said his proposed agenda would set out what Nigerians should expect within the first three years of implementation and establish a basis for assessing progress.
He described the 2027 election as an opportunity for voters to evaluate the Federal Government’s priorities and decide whether its approach to leadership reflected their expectations.
“So, the next election is ultimately about two questions: do you agree with how this government is thinking? Are you satisfied with what it has chosen to prioritise?” he said.
The governor urged eligible Nigerians to obtain their Permanent Voter Cards and participate in the electoral process, stressing that voters should use their democratic rights to determine the country’s political direction.
