Wike hails Tinubu’s courage on fuel subsidy removal, highlights fiscal gains

By Kunle Sanni –

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has commended President Bola Tinubu for what he described as a courageous and transformative decision to remove the fuel subsidy.

Speaking at the 2025 Innovate Africa Conference in Abuja on Thursday, Wike said the move, though initially met with public resistance, has begun to yield positive fiscal results and bring greater stability to the economy.

He noted that the decision, which led to short-term economic discomfort and a surge in fuel prices, has now resulted in significant financial gains for all tiers of government.

“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 in a position to take that decision. Such a bold and 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 — a very difficult decision that made a lot of prices go up, including the price of fuel — today, things are stabilising,” Wike said.

According to him, the Federal Government, states, and local councils now collectively receive over ₦2 trillion monthly from the federation account — a sharp increase from previous allocations.

Wike emphasised that such fiscal growth demonstrates the impact of Tinubu’s economic reforms and reflects the administration’s resolve to implement policies that promote long-term national stability and development.