Oyo State Governor Seyi Makinde, the Allied Peoples Movement's presidential candidate for 2027, has promised to introduce tax breaks for entrepreneurs if elected, while reiterating claims that the Federal Government has withheld almost 250 billion naira in Nigeria LNG dividend payments owed to states. Speaking at an APM South-South Town Hall meeting in Uyo, Akwa Ibom State, Makinde criticised the current administration's approach to taxation, arguing that the tax reforms introduced under President Bola Tinubu's leadership unfairly target lower-income earners rather than the wealthy.
Makinde said his proposed RESET agenda would reset the economy by encouraging entrepreneurship and promoting economic growth without relying solely on federal allocations. He highlighted his track record in Oyo State, where he said the state had increased internally generated revenue without raising taxes. Makinde argued that tax policy should target wealth rather than poverty, stating: "You are supposed to tax wealth. You are not supposed to tax poverty. But they are only interested in taxing poverty."
On the NLNG dividend issue, Makinde claimed that over the years, including under the current administration, the Federal Government has spent dividends paid by Nigeria LNG into the Federation Account without properly sharing the proceeds with states and local governments as required by the Constitution. He challenged the Federal Government to provide a full accounting of the amounts owed to states and local governments from these dividends.
National Leader Bala Mohammed, who is also Bauchi State Governor, urged Nigerians to base their political choices on candidates' experience and vision rather than money or age. Vice-Presidential candidate Lawal Daura said the RESET agenda aimed to restore dignity to Nigerians by addressing challenges in education, the economy, security and general welfare. The town hall meeting was attended by party delegates from Rivers, Akwa Ibom, Delta, Edo, Cross River and Bayelsa states, following similar meetings in other regions.
For entrepreneurs and state governments, Makinde's proposals mean potential relief from taxation if his party wins the 2027 election, while his claims about NLNG dividends suggest a significant source of potential additional revenue for states if resolved in their favour.