- Tinubu’s Courageous Fuel Subsidy Removal Raised States’ Allocation to N2trn – Wike
- …Says economic conditions have begun to stabilise
- Attribute increase in allocation to the president’s bold economic reforms
The Minister of the Federal Capital Territory, Nyesom Wike, on Thursday said President Bola Tinubu took a bold and courageous decision by removing the fuel subsidy.
Wike noted that, despite the initial public outcry over the move, economic conditions have begun to stabilise.
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Eko Hot Blog reports that he made the remarks while delivering the keynote address at the 2025 Innovate Africa Conference in Abuja.
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 would have been able 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 go up, including fuel – today, things are stabilising.”
The minister also revealed that states now receive around N2 trillion monthly from federal allocations, attributing this increase to the president’s bold economic reforms.
Wike said:
“Five hundred billion naira in a month for the federation? Never. I never had more than 10 or 15 billion a month.
Today, states are sharing not less than two trillion every month. Why? Because of the removal of the fuel subsidy.”
