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, when he actively opposed the All Progressives Congress (APC). Olaoye's change in stance is based on his assessment of developments in the country over the past three years.
Olaoye, an outspoken critic of the APC in 2023, said his decision was influenced by the administration's economic reforms, including changes to the petrol subsidy regime and foreign-exchange market. These reforms have attracted both domestic criticism and recognition from international institutions. The International Monetary Fund (IMF) noted in June 2026 that reforms undertaken since 2023 had strengthened macroeconomic stability and reduced fiscal vulnerabilities.
Olaoye pointed to the administration's economic reforms as difficult decisions that are beginning to address longstanding structural problems in the Nigerian economy. He acknowledged that the reforms have caused difficulties for many Nigerians, particularly with regards to living costs. However, Olaoye believes that confronting these problems is crucial, and that leadership requires making unpopular decisions.
The World Bank has described the petrol subsidy and foreign-exchange reforms as important steps towards restoring macroeconomic stability. However, the bank also stressed the need for social protection to cushion vulnerable households from the immediate effects of these reforms. Olaoye emphasized that his support for the Tinubu administration is anchored on fiscal realism, infrastructure ambition, and a willingness to make politically difficult economic decisions.
Olaoye's change in position has attracted criticism, particularly given the strength of his previous opposition to the APC. However, he believes 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 the right of Nigerians to disagree with the government.
Olaoye maintained that his political engagement predates his latest position and should be viewed within his broader commitment to active citizenship. He has always practiced active citizenship, supporting candidates with his time, voice, and resources. 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 believes 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
- Olaoye cites economic reforms as reason for shift in support
- IMF notes reforms have strengthened macroeconomic stability
- Olaoye emphasizes importance of active citizenship
