Minister of the Federal Capital Territory (FCT), Nyesom Wike, has lauded President Bola Ahmed Tinubu for what he described as a bold and courageous decision to remove fuel subsidy, saying the move has significantly boosted monthly revenue allocations to states.
Speaking while delivering the keynote address at the 2025 Innovate Africa Conference in Abuja on Thursday, Wike said Tinubu’s decision, though initially unpopular, has begun yielding positive results.
“You may not be right, but you must take a decision, and that’s what this present government is doing,” Wike said. “People forget where we were yesterday. The day Mr President decided to remove fuel subsidy, I don’t know how many people would have been able to take that decision. It was bold, a very difficult decision. Sacrifices had to be made. Some of us cried out that the masses were suffering, but today, things are stabilising.”
The FCT Minister revealed that the removal of the fuel subsidy has significantly improved the financial capacity of state governments.
He said: “Before, the federation could barely share N500 billion in a month. I never received more than 10 or 15 billion naira monthly. But today, states are sharing not less than 2 trillion every month. Why? Because of the removal of the fuel subsidy.”
Wike commended Tinubu for demonstrating political courage and prioritising long-term economic stability over short-term popularity, noting that the decision has placed Nigeria on a more sustainable fiscal path.
