He said President Buhari's administration is more concerned with fulfilling the immediate needs of Nigerians.
He said the party never made a promise to restructure while it was campaigning for the presidential seat because of how contentious the issue is.
He also said the government is more concerned with fulfilling the immediate needs of Nigerians.
Oyegun disclosed this on Sunrise Daily, an early morning show on Channels TV, saying the subject ranks low on President Muhammadu Buhari's list of priorities.
He said, "When the APC manifesto was being put together, it was discussed extensively.
"We chose our words carefully in putting that manifesto together and we are committed to what we have said in that manifesto. But look at it this way.
"If you ask a Nigerian youth today, will he say his number one preference is restructuring? Or will he say his number one preference is a job, food on the table, economic prospect and restoration of hope in the future?
"Will restructuring be the panacea that will solve that problem? That is the challenge we are confronted with as the APC.
"What is our priority at this stage? Is the nature of eye economy such that we can now embark on that very complicated issue?
"It is complicated, it is contentious and a lot of people talk about it without any commonality.
"We have stated clearly what we want to do, devolution and true federalism. We really avoided the word restructuring because it means so many things to so many people.
"So yes, short answer to your question, we are coming to that but our priority for now, for today is to fix the economy and restore hope, provide jobs to the teaming millions of our youths in all over the country. So it is a matter of priority.
"What is more important, to fix the economy or to embark on this political issue with all the contentious and different interpretation that the public give to it?
"It is very specific on the manifesto and we are not going to renege on it, no question about that. It is a matter of time."
Calls for restructuring the country and achieving true federalism has dominated public discourse over the past week.
Former military Head of State, Gen. Ibrahim Babangida recently lent his voice to the demands, arguing "for the devolution of more powers from the federal level to the states."
Former Vice President Atiku Abubakar also issued a statement on Tuesday, supporting the calls for restructuring the country, thanking the APC's Progressive Governors Forum (PGF) for publicly backing it.
He further claimed that recent increased agitations for separation by several ethnic groups can be blamed on ignoring calls for restructuring.