By Richard Ihediwa
The economic vision articulated in the Four-Pillar RESET NIGERIA Manifesto presented by the Presidential Candidate of the Allied Peoples Movement (APM), Engr. Seyi Makinde offers a compelling alternative to the Tinubu administration’s, retrogressive economic model.
Beyond offering a different policy direction, the RESET NIGERIA Manifesto challenges the assumptions underpinning the Tinubu reforms and raises a fundamental question as to what is the value of macroeconomic stability, as claimed by the Tinubu administration, if it does not translate into improved living conditions for every day Nigerians.
In this sense, the Economic Reset has opened a wider debate about the purpose, priorities and consequences of the failed economic reforms of the President Bola Ahmed Tinubu government which has crippled the productive sector with attendant biting economic hardship on citizens.
The setting was the Congress Hall of the Transcorp Hilton, Abuja, on Wednesday, November 4, 2026, where the APM unveiled its presidential campaign manifesto.
While the event featured speeches and other political proceedings, the most consequential issues were those directly affecting the daily lives of Nigerians: hunger, rising living costs, unemployment and the deepening economic hardship confronting households and businesses.
These concerns form the focus of the first pillar of Makinde’s RESET Nigeria Agenda, the Economic Reset.
The other three pillars which include Security, Education and Socio-political Reforms remain very critical to national stability and development. However, this particular discourse focuses on the economy, arguably the most decisive battleground of the 2027 presidential election.
Given the depth of economic hardship, the high cost of living and the centrality of livelihoods, the state of the economy is likely to weigh heavily on the choices Nigerians make at the polls.
Indeed, Engr. Makinde has triggered a contest between his Economic Reset and “Tinubunomics” that goes beyond a comparison of political manifestoes. It is a fundamental debate about the direction and impact of Nigeria’s economic reforms.
The question is; what is the ultimate purpose of reforms like those of the failed Tinubu administration, that claims bogus macroeconomic achievements, while millions of citizens struggle with poverty, hunger and declining purchasing power?
This is where Makinde’s Economic Reset offers a compelling counterpoint, challenging the assumption that paper economic statistics constitute recovery or growth.
Makinde captured this concern with a striking analogy: “The over emphasis on macroeconomic reforms by the Tinubu administration to the detriment of a broad-based economic growth is akin to someone saying his family has a lot of money in the savings while everyone in the family is starving and sick. What does macroeconomic stability mean if it does not improve the living conditions of ordinary Nigerians? Macroeconomic stability must have a direct impact on the people through job creation, improved incomes and a low cost of living.”
The argument is not that macroeconomic stability is unnecessary, but that it must serve a broader purpose which is improving household welfare, expanding productive activities and creating economic opportunities. Growth that does not translate into better incomes, jobs and affordable essential goods leaves ordinary citizens disconnected from the benefits of reform.
This is the central promise of Makinde’s Economic Reset. It seeks to address the structural drivers of high living costs, by among other things, reducing energy and production expenses and expanding electricity access. The logic is straightforward. High operating costs make Nigerian businesses less competitive, discourage investment and ultimately push up the prices of goods and services.
By improving access to affordable energy and reducing the cost of production, the Reset Agenda aims to stimulate local manufacturing, attract investment, strengthen enterprise competitiveness and create jobs. These measures are expected to improve domestic production and help moderate consumer prices.
This approach is anchored on the Reset’s core philosophy: “stop the loss, recover value and build systems that prevent failures.”
Recovering value also means treating agricultural development and farm security as inseparable responsibilities. Farmers cannot sustain production when their farms and livelihoods are exposed to insecurity. Threats to farming communities disrupt cultivation, reduce food supply and contribute to rising prices. The Reset Agenda therefore recognises that protecting farms and farmers is essential to securing the entire agricultural value chain.
Increased production, supported by improved farm security, would help strengthen food availability and ease the pressure of food inflation in a country where the minimum wage is increasingly inadequate to meet basic household needs.
Energy affordability is another critical component of the proposed economic transformation. Recognising that energy costs affect virtually every household and business, the RESET seeks to reduce petroleum and electricity costs by addressing structural inefficiencies, without reintroducing hidden subsidies or transferring unsustainable financial burdens to Nigerians. Its proposals include a Domestic Energy Value Credit, an independent assessment of domestic refineries and measures to reduce the cost of doing business. It also places responsibility on the Federal Government to address persistent electricity generation and distribution challenges.
On the management of foreign earnings, Makinde argues that rising international crude oil prices should translate into increased public revenue and improved living standards, not additional hardship for Nigerians. His position is that oil revenues are not presidential largesse or the discretionary generosity of the Federal Government, but constitutionally shared Federation resources.
He further questioned the transparency of the Federal Government’s budget performance, particularly how additional oil revenue is accounted for when international crude prices exceed budget benchmarks. His central point is that higher oil earnings should not merely improve government revenue figures; they must translate into tangible benefits for citizens.
Consequently, any additional earnings from higher oil prices should produce visible benefits through improved welfare, infrastructure and economic opportunities.
This argument goes beyond how much revenue the country earns to how effectively that revenue is managed and converted into public value. “If crude oil is benchmarked at $50 per barrel in the budget and the international price rises to $100, Nigerians are entitled to ask what happens to the additional earnings. Should citizens continue to bear the burden of high living costs while government fails to demonstrate how the windfall benefits them?” he asked.
For Makinde, the issue is fundamentally one of transparency and accountability. At a time when many governors appear reluctant to challenge the Federal Government over fiscal and political issues, Makinde stands out for his insistence on the constitutional position of the states and their entitlement to Federation revenues. He explained: “In fact, someone once said that state allocations were given to us by the Federal Government. That is not the case. The money is paid into the Federation Account and must constitutionally be shared among the different tiers of government. Therefore, nobody should say that the President gave you this money or that money. These are revenues belonging to the Federation and are shared in accordance with the Constitution.”
Makinde’s position also demonstrates an appreciation of the distinction between temporary relief and sustainable economic reform.
His acknowledgement that interventions such as price modulation and Compressed Natural Gas (CNG) may provide temporary relief reflects an understanding that immediate measures can ease pressure without necessarily resolving the underlying problems. What Nigeria needs, he argues, is a transparent and sustainable framework that converts increased oil revenues into measurable public benefits.
Technology is central to achieving greater transparency in the petroleum sector. Deploying technology to curb corruption across oil production, distribution and marketing is essential to unlocking the sector’s potential.
Nigeria’s oil wealth must work for Nigerians through fairer domestic crude pricing, transparency across the petroleum value chain and technology-driven reforms that promote investment, industrial productivity and job creation.
For Makinde, the failure to pursue effective transparency and accountability measures reflects a deeper governance problem that continues to undermine national development.
He illustrated this accountability deficit with Tinubu’s unfulfilled promise of constant electricity. Rather than accept responsibility for the failure to provide reliable power, the Tinubu administration, he argued, has shifted attention to electricity autonomy and the authority granted to states to regulate their electricity markets.
Instructively, Makinde recalled President Tinubu’ declaration that Nigerians should not vote for him in 2027 if he fails to fix electricity, insisting that citizens must hold the administration to that commitment.
Ultimately, the Reset Nigeria Agenda reawakens the consciousness of Nigerians to hand President Tinubu a red card in 2027.
Aware that Nigerians have grown weary of unfulfilled promises, Makinde says his commitments will be backed by responsible institutions, clear delivery plans and measurable outcomes. Within his first 100 days in office, his presidency will establish performance targets against which citizens can assess its record and demand accountability.
That is the essential distinction at the heart of this contest: economic reforms should not be judged by what government claims to have achieved, but by what citizens can actually see, feel and experience in their daily lives.
On the whole, the defining promise of the RESET NIGERIA Agenda goes beyond policy proposals: it is a commitment to make government answerable for results. It is a commitment to make life easier for Nigerians; a commitment to move Nigerians from poverty to prosperity.
Ihediwa is the Director of Strategic Communication, Makinde/Daura Presidential Campaign Organisation (MDPCO)