Makinde criticises Tinubu’s macroeconomic policies

The Oyo State Governor has criticised the APC’s macroeconomic policies, arguing that the removal of fuel subsidies and floating of the naira created severe cost-of-living challenges for households.

Oyo State Governor Seyi Makinde voiced strong criticism of the ruling party’s macroeconomic policies during a political address in Abeokuta. Makinde argued that the simultaneous removal of fuel subsidies and floating of the naira without adequate social safety cushions created severe cost-of-living challenges for working-class households.

Makinde’s criticism reflects the growing discontent among state governors and the public over the government’s economic reforms. The removal of fuel subsidies and the floating of the naira have led to significant increases in the cost of living, and Makinde’s comments suggest that the government has not done enough to mitigate the impact.

This echoes the 2023 criticism of the fuel subsidy removal, which also sparked widespread protests. The mechanism then was different, but the result was the same: a focus on the social costs of economic reform.

The winners: the opposition, which has gained a political weapon; and the Nigerian public, who have a voice in the debate. The losers: the Tinubu administration, which faces criticism; and the Nigerian public, who continue to struggle with the cost of living.

Bottom Line: Makinde has criticised Tinubu’s economic policies. The reforms have caused pain. The question is whether the government will provide relief or continue on the same path.