Oyo State Governor and the presidential candidate of the Allied People’s Movement, Seyi Makinde, has promised to introduce tax breaks for entrepreneurs if elected president in 2027.
Makinde, who stated this while addressing party stakeholders at the APM South-South Town Hall meeting in Uyo, Akwa Ibom State, monitored by our correspondent on Tuesday, also accused the President Bola Tinubu-led Federal Government of prioritising the taxation of poor Nigerians over wealthy individuals.
Upon assuming office, Tinubu introduced reforms to Nigeria’s tax system, which elicited mixed reactions, with many Nigerians expressing concerns that the changes could adversely affect the middle class.
However, the Presidency has repeatedly dismissed such concerns, insisting that the tax reforms were designed to protect middle- and low-income earners.
The APM Presidential candidate said his administration in Oyo State increased the state’s internally generated revenue without raising taxes, adding that his proposed RESET agenda would encourage entrepreneurship and promote economic growth.
Makinde stated, “We will reset our economy. We will not all keep waiting for handouts from the federal allocation, because to expand our economy, we need two other elements.
“You need entrepreneurs. I started my own company at the age of 29. I employed engineers. I took the risk on behalf of the state because government alone cannot provide the employment and expansion that we need.
“So, we will ensure that we encourage entrepreneurs. We will ensure that people have tax breaks. And if you ask me whether we have done it before, yes, I did it in Oyo State. We increased Oyo State’s IGR without raising taxes on anybody. The records are there.
“Just as Senator Ireti Kingibe said a few days ago, the Federal Government has passed a tax law that is not consistent with productivity. You are supposed to tax wealth. You are not supposed to tax poverty. But they are only interested in taxing poverty.”
Makinde said the Reset agenda also seeks to reform Nigeria’s socio-political space, noting that the country’s founding fathers adopted federalism, as reflected in its official name, the Federal Republic of Nigeria.
The APM presidential candidate continued, “I said the Federal Government has withheld almost N250bn due to each state from Nigeria LNG dividend payments. Rather than come out and tell us what has been happening to dividends paid by Nigeria LNG, they said, ‘No, Governor Makinde, be careful. You should not say things that are not true.’
“I stand by what I have said. The records are there. The papers are there. I did not say it was a one-off payment that is due to the states.
“They should listen, and listen very carefully. What I said is that, over the years, including during this administration, the Federal Government has been spending alone the dividends paid by Nigeria LNG into the Federation Account.
“Anything that goes into the Federation Account, according to our Constitution, should be shared between the Federal Government, state governments and local governments. Let them provide the amounts meant for the states and local governments in Nigeria.”
The APM vice-presidential candidate, Lawal Daura, said the party’s Reset agenda was designed to restore dignity to Nigerians by addressing challenges in education, the economy, security and general welfare.
Daura said the APM remained committed to putting Nigeria first, describing it as a party founded on justice, honesty and patriotism.
He stated, “We are here for serious business. Let no one be in doubt that the APM government will make sure that we end what we used to call, or say, ‘motion without movement.’ Nigeria has been running in a cycle, and it was looking like a difficult thing to break the cycle. But this time around, by the special grace of God, we have decided to break the cycle. Nigeria must move forward.
“Nigerians must be made to feel that they are citizens with honour and dignity. Nigerians have no reason to be poor. They have no reason to be poor. But at least, Nigerians are entitled to live a dignified life.
“That is why the RESET agenda, as enunciated by our presidential candidate, is aimed at making Nigerian citizens dignified citizens. It is something that has to do with their education, their economy, their security and, of course, the well-being of Nigerians in every facet of life.”
The national leader of the party and Bauchi State Governor, Bala Mohammed, urged Nigerians, particularly youths and women, to make their political choices based on candidates’ pedigree rather than money or age.
Mohammed said the party’s presidential candidate, Makinde, has the vision, experience, knowledge and roadmap needed to address Nigeria’s challenges and unlock the country’s potential.
He expressed satisfaction with the reception accorded the party in the South-South, describing it as a sign of support for its quest to build a new Nigeria.
Mohammed also urged Nigerians to contribute to the process through stakeholder engagement and social media, assuring them that the party was willing to listen to their views and ideas.
The APM South-South town hall meeting was attended by members of the party’s National Working Committee and delegates from Rivers, Akwa Ibom, Delta, Edo, Cross River and Bayelsa states.
The party had earlier held town hall meetings in the North-Central, North-West and North-East regions.