President of the Nigerian Economic Society (NES), Professor Adeola Adenikinju, has commended Oyo State governor, Seyi Makinde, for what he described as remarkable accomplishments over the past 80 months, stating that he would award the governor a “distinction”.
Adenikinju made the remarks during an interview on The People’s Verdict, where he praised Makinde’s leadership style and governance record.
“I will give the governor a distinction, an A. He has done well. He can do more, but he has done relatively well,” Professor Adenikinju said. “I will say he is a performer. He doesn’t talk too much, but he performs.”
The renowned economist highlighted the state’s infrastructural transformation as a major marker of Makinde’s performance, noting that the achievements came despite the country’s economic challenges and declining federal revenues.
“Nigeria has gone through a lot of challenges which affected the economies of many parts of the world. At some point, government revenue actually declined because of revenue challenges,” he said. “But in the midst of all of that, in Oyo State you see a lot of infrastructural development; you see a lot of investment flowing in. So, I think the governor is on the right track.”
Adenikinju emphasized that most Nigerian states are heavily dependent on federal allocations, yet Oyo State has managed to sustain development under Makinde. According to him, the governor’s focus on infrastructure and the energy sector will position the state for stronger economic growth.
“With what he is also doing in the area of energy, I know that very soon Oyo State will be able to boast of a good supply of electricity, which will further enhance economic growth,” he added.
Speaking further, the University of Ibadan professor pointed to the increasing investment activities across Ibadan and the wider state.
“If you drive around Ibadan, you will see a lot of activities, even at night. You will see a number of economic activities being driven by new investments,” he said. “The state government is doing its own investments, the private sector is also doing its own. So, when you combine the two, I think Oyo State is doing quite well.”
Adenikinju also applauded the administration’s employment generation and consistent payment of salaries, noting that the policy has strengthened purchasing power and contributed to poverty reduction.
“When you employ more hands, when you pay people and you do not owe contractors, you are boosting their purchasing power,” he said. “Employing more people is a good decision. It reduces unemployment and poverty. Those who are employed now will support those who are not employed.”
The NES president further praised Makinde’s approach to taxation, describing the administration’s decision to widen the tax net rather than increase tax rates as appropriate for the current economic climate.
“If the governor has been able to keep taxes at the same level over the years, that means that as people’s income increases, their purchasing power also increases,” he said. “It is better to expand the tax base than increase the tax rate. Given the economic situation in Nigeria today, this is not the time to raise tax rates, but to widen the tax net. I guess that is what the governor is doing.”
