Oyo State Governor and Allied Peoples Movement (APM) presidential candidate, Seyi Makinde, has promised to introduce tax breaks for entrepreneurs if elected president in the 2027 general election.
Makinde made the pledge on Tuesday while addressing party stakeholders at the APM South-South Town Hall meeting in Uyo, Akwa Ibom State.
He also accused the Federal Government, led by President Bola Tinubu, of placing a heavier tax burden on poor Nigerians rather than ensuring that wealthier individuals contribute their fair share.
Tinubu’s administration has introduced reforms to Nigeria’s tax system, which have attracted mixed reactions, with some Nigerians expressing concerns about their potential impact on middle-income earners. The Presidency has repeatedly maintained that the reforms are designed to protect low- and middle-income groups.
Speaking at the event, Makinde said his administration in Oyo State had increased internally generated revenue (IGR) without raising taxes, arguing that his proposed RESET agenda would encourage entrepreneurship and drive economic growth.
“We will reset our economy. We will not all keep waiting for handouts from the federal allocation, because to expand our economy, we need two other elements. You need entrepreneurs. I started my own company at the age of 29. I employed engineers. I took the risk on behalf of the state because government alone cannot provide the employment and expansion that we need,” he said.
He added that his administration would create a more supportive environment for business owners through tax relief measures.
“So, we will ensure that we encourage entrepreneurs. We will ensure that people have tax breaks. And if you ask me whether we have done it before, yes, I did it in Oyo State. We increased Oyo State’s IGR without raising taxes on anybody. The records are there,” Makinde said.
The APM candidate said the RESET agenda also sought to reshape Nigeria’s socio-political structure, arguing that the country’s founding fathers had adopted federalism, as reflected in its official name, the Federal Republic of Nigeria.
Makinde also renewed his allegation that the Federal Government had withheld nearly ₦250 billion in dividend payments from Nigeria LNG Limited that he said was due to each state.
He criticised the government’s response to his earlier comments, insisting that the issue required clarification.
“I said the Federal Government has withheld almost ₦250bn due to each state from Nigeria LNG dividend payments. Rather than come out and tell us what has been happening to dividends paid by Nigeria LNG, they said, ‘No, Governor Makinde, you be careful. You should not say things that are not true,’” he said.
Makinde maintained that his statement was based on records and documents, adding that he had not described the alleged payments as a one-off transaction.
“They should listen, and listen very carefully. What I said is that, over the years, including during this administration, the Federal Government has been spending alone the dividends paid by Nigeria LNG into the Federation Account,” he added.
The governor’s comments place taxation, entrepreneurship and the management of federation revenues among the issues he is highlighting as part of his campaign ahead of the 2027 presidential election.
