The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has praised President Bola Tinubu for removing the petrol subsidy, describing the decision as a bold step that previous Nigerian leaders were unwilling to take.
Wike made the remarks on Wednesday at a political stakeholders’ forum in Abuja, where he defended the Federal Government’s economic reforms and urged Nigerians to support Tinubu ahead of the 2027 general elections.
According to the minister, successive administrations had acknowledged alleged irregularities in the fuel subsidy system but failed to abolish it despite recognising the need for reform.
“There is no president that came that said fuel subsidy was not a scam. Every president said it was a scam. But nobody had that courage to say it will go,” Wike said.
Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023, a decision that triggered significant changes in fuel prices and the cost of living across the country.
The FCT minister acknowledged that the policy had contributed to rising living costs but expressed optimism that prices would eventually decline as the administration’s economic reforms stabilised.
“We agree that the cost of things are a bit high. By the time the reform is stabilised, the cost of living will come down. That is the sacrifice of removing the fuel subsidy,” he said.
Wike also defended the administration’s performance by pointing to developments in public finance and industrial relations in the education sector.
He claimed that state governors under Tinubu’s administration no longer needed to obtain bank loans, although he did not provide further details to support the assertion.
“Nobody goes to the bank to get loan,” the minister said.
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He also argued that the administration had made progress in maintaining industrial peace in public universities, questioning whether there had been any university strikes during its time in office.
“Since three years now, has there been any strike in university? Has there been any strike? Let us just say the truth. There has been no strike,” Wike said.
The minister, however, acknowledged that the administration had yet to resolve every challenge facing the country.
“We cannot say that this administration has solved every problem, no. But within the three years they have come, they have solved a lot of problems,” he added.
