Blaming Makinde for Nigeria’s Economic Woes Shows Alli’s Incompetence — Oyo Govt

The Oyo State Government has described as incompetent and dishonest attempts by the Sharafadeen Alli Campaign Organisation to blame Governor Seyi Makinde for the current economic hardship in the country.

In a statement on Wednesday, Special Adviser on Media to the Governor, Dr. Sulaimon Olanrewaju, said it was irresponsible to replace facts with theatrics at a time Nigerians are grappling with one of the most severe economic crises in decades.

Olanrewaju said the hardship being experienced across the country is rooted in national macroeconomic decisions, not state-level governance failures.

“Nigeria’s current economic situation is not the result of state level governance failures. It is the direct consequence of national policy choices that have transformed the fiscal environment across the federation,” he said.

He cited the depreciation of the naira from around N450-N470 per dollar in 2023 to between N1,400 and N1,600 following currency unification, representing a 200 to 250 percent depreciation, noting that no state governor can shield citizens from the inflationary shock triggered by the collapse.

He added that the removal of petrol subsidy in mid-2023 further intensified the crisis, pushing transport costs, food prices and inflation above 30 percent — the highest in two decades.

According to him, while the National Bureau of Statistics estimated in 2023 that about 40 percent of Nigerians lived below the poverty line, assessments including those by the World Bank now indicate that over 46 to 50 percent are in poverty.

Olanrewaju faulted claims by the Alli campaign over increased FAAC allocations, saying higher nominal revenue in an inflationary environment does not translate to prosperity.

“FAAC inflows rise when oil prices increase, when subsidy deductions reduce, and when the naira weakens because oil is sold in dollars. States may receive more money, but that money buys far less than it did two years ago,” he said, adding that this was what Governor Makinde meant by “Voodoo Economy”.

He also dismissed accusations that Governor Makinde opposes local government autonomy, describing it as misplaced.

“Local government autonomy is a constitutional matter currently under judicial review and legislative consideration. The APC-led Federal Government obtained a Supreme Court judgment on this issue nearly two years ago but has failed to implement it. Why then should Governor Makinde be blamed for the Federal Government’s inability to execute its own judgment?” he queried.

The governor’s aide said blaming a governor for hunger during a period of currency collapse, subsidy removal and historic inflation amounts to political posturing, not policy analysis.