Nigerian entrepreneur and civic advocate Akin Olaoye has publicly declared his support for President Bola Ahmed Tinubu and the administration's Renewed Hope agenda. This marks a significant shift from his political position during the 2023 general elections. Olaoye made the declaration via his X handle, stating that his decision was based on his assessment of developments in the country over the past three years.
Olaoye, an outspoken critic of the All Progressives Congress (APC) in the build-up to the 2023 elections, actively supported the opposition. He said that in 2023, he distrusted the APC, but three years later, he has changed his position. Olaoye pointed to the administration's economic reforms, including changes to the petrol subsidy regime and the foreign-exchange market, as difficult decisions that are beginning to address longstanding structural problems in the Nigerian economy.
The International Monetary Fund (IMF) noted in its June 2026 assessment that reforms undertaken since 2023 had strengthened macroeconomic stability, reduced fiscal vulnerabilities, rebuilt external buffers, and improved the functioning of the foreign-exchange market. However, the IMF also noted that conditions remained difficult for many Nigerians. The World Bank described the petrol subsidy and foreign-exchange reforms as important steps towards restoring macroeconomic stability.
Olaoye acknowledged that the reforms have attracted both domestic criticism over their impact on living costs and recognition from international institutions. He emphasized that leadership sometimes requires decisions whose benefits are not immediately visible. Olaoye stated that fuel subsidy removal and FX unification were painful, but he believes the architecture of a functioning economy is being rebuilt in public, with determination.
Olaoye's political repositioning is likely to attract criticism, particularly given his strong opposition to the APC. He stated that loyalty to a 2023 posture is easier than responding to what he believes the evidence before him now shows. Olaoye emphasized that his new position does not diminish the importance of a strong opposition or Nigerians' right to disagree with the government.
Olaoye's support for the Tinubu administration is anchored in what he described as fiscal realism, infrastructure ambition, and a willingness to make politically difficult economic decisions. He also emphasized that his political engagement predates his latest position and should be seen as part of his broader commitment to active citizenship. Olaoye intends to bring the same level of energy to his political engagement ahead of the 2027 elections.
Olaoye concluded that changing a political position in response to changing circumstances should not automatically be interpreted as inconsistency. He stated that democracy also means the freedom to reassess, question, change, and make a different choice based on what one sees today. Olaoye's position today is clear: Nigeria must move forward.
Key points
- Akin Olaoye cites economic reforms and leadership as reasons for his shift in support to President Bola Ahmed Tinubu.
- Olaoye's support for Tinubu is anchored in fiscal realism, infrastructure ambition, and a willingness to make difficult economic decisions.
- Olaoye emphasizes the importance of a strong opposition and Nigerians' right to disagree with the government.
