WorldStage– The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Thursday said but for President Bola Tinubu taking bold decision in removing the fuel subsidy, revenue allocation to all the three tiers of government would have remained insufficient to meet governments’ responsibilities.
He made the remarks while delivering the keynote address at the 2025 Innovate Africa Conference in Abuja, noting that despite initial public outcry over the decision, conditions have begun to stabilise.
According to Wike: “You may not be right, but you must take a decision and that’s what this present government is doing.
“People forget where we were yesterday. The day Mr President decided to remove fuel subsidy, I don’t know how many people will be in a position to take that decision. So bold, very difficult decision. But sacrifices must be made and some of us started crying, ‘how can you remove fuel subsidy?’ The masses are suffering.
“But by the grace of God, that decision he took – very difficult decision, that made a lot of prices to group, price of fuel up – today, things are stabilising.”
The minister also revealed that States, Local Councils and the Federal Government now receive over N2 trillion monthly from the federal account, attributing this increase to the president’s bold decisions.
Wike said: “500 billion naira in a month for the federation. Never. I’ve never had more than 10, 15 billion a month.
“Today, not less than 2 trillion is being shared every month. Why? Because of the removal of the fuel subsidy.”
