Oyo State Governor, Seyi Makinde has described the economic policies of President Bola Tinubu’s administration as a “voodoo economy.”

He made the remarks while addressing civil servants in Ibadan after returning from his annual leave.

Makinde, who is also the presidential candidate of the Allied Peoples Movement, said the former N18,000 minimum wage under the Goodluck Jonathan administration could buy more goods and services than the current N70,000 wage.

He argued that despite the higher figure on paper, the real value of workers’ pay has fallen because of rising prices and the weakening of the naira. The governor linked the situation to broader economic challenges facing ordinary Nigerians.

Makinde spoke to civil servants at the government house in Agodi, Ibadan. He used the occasion to highlight the gap between nominal wage increases and actual purchasing power.
His comments form part of ongoing political debates about the impact of recent economic reforms on the cost of living and workers’ welfare ahead of the 2027 elections.

Photo credit: Punch Newspaper