Alake: Tinubu Put His Re-election Bid in Jeopardy to Restructure Badly Damaged Economy

Minister of Solid Minerals Development, Dele Alake, has asserted that President Bola Tinubu endangered his re-election campaign by implementing reforms aimed at restructuring Nigeria's "badly damaged" economy. Speaking at an interaction session with journalists, Alake, who also serves as Spokesperson of the APC Presidential Campaign Council for the 2027 presidential election, defended the administration's decision to take challenging measures necessary to rescue Nigeria from long-standing economic distortions.

He highlighted that previous governments were aware of the reforms needed to address the country's economic challenges but often shied away from them due to potential political repercussions.

Alake acknowledged that the reforms had caused significant short-term difficulties but emphasized that they were essential to prevent the economy from descending further into crisis. He pointed out that successive administrations had recognized the need to end the subsidy regime but were forced to postpone the decision due to fears of public backlash which could affect their electoral fortunes.

Alake argued that while some Nigerians had benefited from the subsidy, fuel cartels and wealthy individuals were the primary beneficiaries, consuming significantly more petroleum products.

He rejected claims that ordinary Nigerians were the main beneficiaries of the subsidy, stating that the removal of petrol subsidy primarily benefited fuel cartels and the wealthy. Alake defended the subsidy removal against calls for the government to reverse the reforms, asserting that consistency was necessary rather than another economic reset.

He emphasized that Nigeria needed to implement difficult reforms consistently to achieve significant long-term results. Alake recalled the successful reforms implemented in Lagos State under Tinubu's tenure as governor, which had helped transform the state's finances.

The minister dismissed criticisms that the reforms had not reached ordinary Nigerians, citing the student loan scheme as an example of interventions already providing direct and indirect benefits across various sectors. He urged the media to focus on the party's manifesto, policy proposals, and campaign messaging rather than the internal structure of the campaign council.