By Samuel Olusegun Precious
Oyo State Governor and presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has criticized the economic policies of the Federal Government, describing them as a “voodoo economy.”
APM’s Makinde made the remarks during a town hall meeting in Katsina where he unveiled his “Reset Nigeria” agenda.
The Oyo State governor questioned whether increased allocations to states from the Federation Account had translated into improved living conditions for Nigerians. He noted that when he assumed office in 2019, Oyo State relied on federal allocation for over 80% of its revenue.
Through reforms, he said the state reduced the dependence to 65% by 2022. However, Makinde said the figure has now risen to nearly 80% again due to the fiscal management of the current administration.
“The resultant effect is that today Oyo State is back to almost 80% dependence on federal allocation,” he said, attributing it to the Federal Government’s economic policies. Makinde said his administration’s approach contrasts with the Federal Government’s top-down approach, noting that his government holds consultations to identify the needs and priorities of residents before finalizing spending plans.
He outlined his party’s proposed economic reset, which focuses on building a 24-hour economy driven by skills, knowledge and increased production, as well as mining devolution, education reform and security.
Makinde also said if elected president in 2027, his government would establish a Transitional Government of National Unity from May 29, 2027 to drive sustainable development.
