The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said President Bola Ahmed Tinubu, demonstrated the political courage that previous Nigerian leaders lacked by removing petrol subsidy.
Naija News reports that Wike argued that successive administrations had acknowledged irregularities in the subsidy regime but failed to abolish it despite recognising the need for reform.
The Minister spoke on Wednesday at a political stakeholders’ forum in Abuja, where he defended the Federal Government’s economic politics and canvassed support for Tinubu ahead of the 2027 general elections.
According to him, Tinubu’s decision to remove the subsidy during his inauguration on May 29, 2023, marked a significant departure from the approach of previous administrations.
“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.
The former Rivers State Governor, however, admitted that the policy had contributed to the rising cost of living.
He expressed optimism that prices would 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.
He stated that state governors under the Tinubu administration no longer obtain bank loans, adding that public universities had not experienced strikes.
“Nobody goes to the bank to get loan,” Wike said.
“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.
“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.”
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