The Minister of the Federal Capital Territory, Nyesom Wike, spoke during his end-of-year media chat about the impact of fuel subsidy removal in Nigeria.
Wike said the decision by President Bola Tinubu to remove fuel subsidy has increased the amount of money available to state governments across the country. He explained that many states now prepare annual budgets running into over one trillion naira, a situation he said did not exist in the past.
According to him, during his eight years as governor of Rivers State, the total funds received from the Federation Account never exceeded two hundred billion naira in any single year. He noted that the rise in state revenue has changed the financial position of governors, giving them access to far more resources than before.
The FCT minister added that the increase in funds has also attracted people seeking to benefit from the money now flowing into states through various means. He stated that with more funds available, living conditions should improve if the money is properly used, and he urged residents to demand transparency and responsibility from their governors.
Wike also spoke about the financial situation of the Federal Capital Territory, explaining that the FCT receives only one percent of the federal share from the Federation Account. He said this amount is often not enough to cover salaries, forcing the administration to rely heavily on internally generated revenue. Despite this, he maintained that the FCT administration has made steady progress with the limited funds available.
He further said that beyond road construction and other physical projects, the FCT administration has invested in education, healthcare and agriculture, which he believes will improve the lives of residents over time.
On politics, Wike expressed confidence that candidates of the All Progressives Congress will perform well in the upcoming FCT Area Councils elections scheduled for February. He linked this confidence to the goodwill of President Tinubu, saying the president has shown uncommon interest in the development of the area councils.
Wike concluded by noting that while money is important, it cannot solve every problem, adding that goodwill and leadership also play a key role in governance and development.
CLICK THE LINK TO READ FULL LIST
- Advertisement -
Comments are closed.