Tinubu using foreign reserves to create misleading impression of economic growth – Makinde
Tinubu using foreign reserves to create misleading impression of economic growth – Makinde
Seyi Makinde, presidential candidate of the Allied Peoples Movement (APM), has accused President Bola Tinubu of using the reported growth in foreign reserves to create a misleading impression of economic recovery.
Speaking on Saturday during the official launch of the Makinde and Daura for Better Nigeria (MAD) Resetter Movement in Lagos, the Oyo state governor said the emphasis on rising foreign reserves is a political gimmick.
Makinde said millions of Nigerians continue to grapple with hunger and hardship.
The APM presidential candidate said the improvements in the financial indicators mean little if they do not translate into better living conditions for Nigerians.
Makinde noted the need for a comprehensive reset of the economy, security architecture, education system and socio-political environment.
The Oyo governor said the country must return to the principles of federalism and multiparty democracy.
He noted that support groups 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,” Makinde said.
He explained that the reported increase in Nigeria’s foreign reserves should not be celebrated in isolation when ordinary citizens are unable to afford necessities.
“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.
He said economic progress should be measured by citizens’ prosperity, financial independence, and access to opportunities to fulfil their aspirations.
He said 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.
Makinde added that Nigeria’s political and constitutional foundations were built on federalism and multiparty democracy, principles to make the country work for all citizens.
