Nigerians Slam Makinde Over Comment Criticising Fuel Subsidy Removal, Naira Floatation

By Olabode Opeseitan

Seyi Makinde, governor of Oyo State, has faced the full wrath of Nigerians after his disingenuous claim that the removal of fuel subsidy and the floatation of the naira inflicted untold hardship on citizens.

This time, Nigerians refused to indulge him. They were unsparing. They saw in Makinde not a victim of federal policy but one of its biggest beneficiaries, a hypocrite, and many told him so without restraint.

Before we get to the comments, here is the context.

In Makinde’s first three years in office from June 2019 to May 2022, Oyo State averaged roughly ₦5 to ₦7 billion monthly in gross FAAC, totalling about ₦75 to ₦95 billion annually. In sharp contrast, during the first twenty seven months of his second term from May 2023 to August 2025, the state’s net federal allocation alone surged to ₦727.21 billion. The state government received ₦352.15 billion and the thirty three local governments received ₦375.06 billion. Monthly inflows rose to between ₦17.8 billion and over ₦21 billion, driven entirely by post subsidy revenue scaling.

In the first half of this year from January to June, Oyo State generated a massive ₦253.67 billion in VAT. This was principally due to the reduction of the Federal Government’s share from 15% to 10% and the derivation based distribution model. It was one of the largest VAT windfalls in the history of the state.

So Nigerians asked Makinde the only question that mattered. How have you used the unprecedented allocation you collected to relieve the very hardship you now lament? What projects have you executed to reduce the cost of living for the people of Oyo State? Where is the impact?

The comments were brutal, direct and unfiltered. A few examples:

Wole Adepoju:
Makinde should not compound his woes because no amount of nonsense you or anyone would say will dim Tinubu’s chance of winning in January.

Adewale Adeniji:
But this buf___n was collecting the proceeds in form of increased monthly allocation without rejecting it. How has he used it to better Oyo State where we both come from?

Adenitan Akinola Charles:
Alabosi… (mischief maker).

Isaac Bukola:
Those two policies you mentioned are good for economic survival.

Adeniyi Adeoye Joshua:
But the monthly allocation for states had increased.

Olubunmi Oluwadare:
These two policies created a window for states and local governments to have more FAAC funds to foster good governance and create wealth. The 1999 Constitution stated the roles of FG, SG and LG. The major work lies in states and local governments. A functional state and local government equals a prosperous Nigeria.

Yusuf Mamman:
They stabilised the economy and repositioned the nation for rapid growth. Oga Makinde, there is no shortcut to success.

James Odutolu:
Let us see your blueprints for the country’s economy. Not criticisms all the time.

Oluwadare Yomi:
If you governors are doing well, the work of the president will show and have an impact on the life of the common people.

Joseph Oludiya:
Governor Seyi Makinde is entitled to his opinion, but it is also important to present the full picture. President Bola Ahmed Tinubu inherited an economy facing serious structural challenges built up over many years. The removal of fuel subsidy and the unification of the exchange rate were difficult reforms aimed at addressing long standing distortions.

Adaramola John Kayode:
Those who live in glass houses should not throw stones.

Busari Saheed:
Is that the reason why you kept ₦30 billion?
(Here is the context to Busari’s comment. Following the January 2024 Bodija explosion in Ibadan, President Bola Tinubu approved a ₦50 billion federal intervention fund. The Federal Government released ₦30 billion to the Oyo State Government in November 2024. Governor Seyi Makinde neither announced nor released the money until former Ekiti State Governor Ayodele Fayose blew the whistle. Makinde’s excuse was that the state intentionally left the ₦30 billion untouched in a designated bank account while waiting for the remaining ₦20 billion balance, which he claimed was held without explanation. That was his condition before deploying the initial ₦30 billion. It was a justification so flimsy, so illogical and so devoid of administrative sense that many Nigerians described it as an insult to public intelligence.)

Comm Andrew:
My incoming President, God willing.

Nkereuwem Akpan:
Little presidential candidate.

Taiwo Ademusi:
But you pocketed the money meant for those affected by the unexpected explosion at Ibadan. If you are elected, what will you do differently?

Those were just a few of the numerous comments excoriating Seyi Makinde for his self‑serving remarks. In the end, Nigerians were not deceived. They saw a governor railing against hardship while presiding over the largest revenue boom in Oyo State’s history without commensurate initiatives to lift the people of the state out of poverty. Makinde had both the resources and the responsibility, yet failed to act in any proportion to the scale of the challenge.