Makinde accuses Tinubu of using foreign reserves to hoodwink Nigerians

Oyo State Governor and presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has accused President Bola Tinubu of using the reported growth in Nigeria’s foreign reserves to create a misleading impression of economic recovery while millions of Nigerians continue to grapple with hunger and hardship.

Makinde described the emphasis on rising foreign reserves as a political gimmick, arguing that improvements in the country’s financial indicators mean little if they do not translate into better living conditions for citizens.

The Governor spoke on Saturday through a video message at the official launch of the Makinde and Daura for Better Nigeria (MAD) Resetter Movement in Lagos.

The event attracted APM leaders, party loyalists, stakeholders and candidates preparing for the 2027 general elections in Lagos State and other parts of the country.

Makinde called for a comprehensive reset of Nigeria’s economy, security architecture, education system and socio-political environment, insisting that the country must return to the principles of federalism and multiparty democracy.

Expressing support for the movement’s agenda, he said Nigerians must look beyond official economic statistics and assess the government’s performance by the realities of their daily lives.

“I am with you 101 per cent towards the reset agenda for Nigeria. We need to reset our economy, our security architecture, our educational system and the socio-political environment,” he said.

Makinde argued that the reported increase in Nigeria’s foreign reserves should not be celebrated in isolation when ordinary citizens are unable to afford basic necessities.

He likened the situation to a household whose head boasts of having substantial savings in the bank while members of the family go hungry.

“We have heard stories that Nigeria’s foreign reserves are going up. I liken it to a household where the head is telling the people that we have a lot of money in our savings accounts, but everyone in that household is hungry,” he said.

According to him, economic progress should be measured by the extent to which citizens can achieve prosperity, become financially independent and access opportunities to fulfil their aspirations.

He said the country’s young people must be able to pursue their dreams in an environment that offers economic opportunities rather than leaving them struggling to survive despite claims of improved economic performance.

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The Governor also stressed that Nigeria’s political and constitutional foundations were built on federalism and multiparty democracy, principles he said must be strengthened to make the country work for all citizens.

“Nigeria was negotiated on the basis of a federalism arrangement. Nigeria was negotiated on the basis of multiparty democracy. So, join myself and Alhaji Lawal Daura in the agenda to make Nigeria work for everybody,” he said.

Makinde urged Nigerians who felt that the country was not working for them to join the movement for a national reset, encouraging its members to extend their mobilisation beyond Lagos and the South-West to other geopolitical zones.

He expressed optimism about the initiative and prayed that the efforts of those working towards a better Nigeria would not be in vain.