Makinde knocks Tinubu's subsidy removal, naira floatation as double blow to Nigerians
By Aboki Forex —
Oyo State Governor and presidential candidate of the Allied People's Movement, Seyi Makinde, has condemned the simultaneous removal of fuel subsidy and floating of the naira under President Bola Tinubu, calling it a double blow to Nigerians' welfare.
Makinde spoke on Monday in Abeokuta, Ogun State, during the unveiling of the APM's deputy governorship candidate for the state, Mrs Deborah Akinlade, and the party's House of Assembly and National Assembly candidates ahead of the 2027 elections. He was represented by a national leader of the party, Mr Babatunde Tijani.
No country can withstand twin shocks
The governor lamented that no country could withstand the two economic shocks introduced by the All Progressives Congress-led administration without adequate cushioning measures.
Makinde's exact words
Makinde said, "How can a person just decide one day that he will remove the fuel subsidy without any cushioning effect or any palliative to fill the gap? At the same time, they still went ahead and floated the naira."
What this means for the naira
The remarks add to growing criticism of the policy mix that has weakened the naira and raised living costs for Nigerian households and businesses.