Minister of the Federal Capital Territory (FCT), Nyesom
Wike, has commended President Bola Tinubu for what he described as a
“bold and difficult” decision to remove fuel subsidy, saying the move has begun
to yield positive results.
Speaking on Thursday in Abuja while delivering
the keynote address at the 2025 Innovate Africa Conference, Wike said
the policy, though initially painful, has led to increased revenue for all
tiers of government and greater economic stability.
“You may not be right, but you must take a decision —
and that’s what this present government is doing,” Wike stated.
“When Mr President decided to remove fuel subsidy, it
was a very difficult decision. Many cried that the masses were suffering. But
by the grace of God, that decision — though painful — has now led to
stability.”
The minister noted that revenue allocation to the federal,
state, and local governments has risen significantly since the removal of
subsidy, with over ?2 trillion now shared monthly from the federation
account.
“Before now, we never had more than ?500 billion a
month for the entire federation. I used to receive only ?10–15 billion monthly.
Today, not less than ?2 trillion is being shared every month — because of the
removal of fuel subsidy,” he added.
Wike praised the administration’s economic reforms,
stressing that leadership often requires tough choices for the nation’s
long-term progress.
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