Seyi Makinde, governor of Oyo state and presidential candidate of the Allied Peoples Movement (APM), has proposed a system for converting crude oil earnings above the national budget benchmark into improved welfare for Nigerians.
Makinde spoke in Abuja on Wednesday at the unveiling of his “Reset Agenda” manifesto, ahead of the January 16, 2027, presidential election.
The APM presidential candidate was accompanied by Lawal Daura, his running mate, and Yusuf Dantalle, the party’s national chairman.
Nigeria’s annual budgets are based on a benchmark crude oil price, with earnings above the benchmark historically saved or shared among the federal, state and local governments.
Makinde said the country’s abundant natural and human resources should translate into better living conditions for its citizens, adding that increased oil revenue must be reflected in the welfare of ordinary Nigerians.
“For us, macroeconomic reforms must translate into improvements in people’s lives,” he said.
The governor questioned the value of macroeconomic stability if it did not translate into improved living conditions for citizens, describing the disconnect between economic reforms and public welfare as one of Nigeria’s major challenges.
He said government promises must be backed by clear implementation plans, measurable targets, and accountable institutions.
Makinde pledged to establish performance targets within his first 100 days in office if elected president, while calling for greater accountability in public spending.
On electricity, the governor urged Nigerians to hold the federal government accountable for its promise of improved power supply.
He said the law granting state governments powers over electricity did not absolve the federal government of its responsibility to address challenges in generation and distribution.
Makinde said his presidential ambition was driven by the need to address Nigeria’s challenges and restore the vision of the country’s founding fathers.
He said his administration would prioritise improving living conditions of millions of Nigerians, particularly those in rural communities, expanding opportunities regardless of ethnic or religious affiliation and strengthening public institutions.
“We must develop people’s abilities and expand their access to opportunities. We must also have institutions that work,” he said.
On the political system, Makinde proposed that a presidential candidate should secure more than half of the votes cast to win an election, arguing that the arrangement would encourage broader political cooperation.
He also proposed a transitional government of national unity and a national conference to discuss the country’s challenges and agree on a common direction.
Daura, former director-general of the Department of State Services (DSS), criticised what he described as the suppression of opposition parties, saying a level playing field was essential to sustaining democracy.
In his welcome address, Dantalle said the 2027 election was not about the APM but the future of millions of Nigerians seeking a reset of the country.
He urged the Independent National Electoral Commission (INEC) to remain neutral and ensure peaceful and credible elections, describing electoral fraud as the worst form of banditry.