Minister of the Federal Capital Territory (FCT), Nyesom Wike, has called on Nigerians to demand transparency and accountability from their governors, describing President Bola Tinubu’s removal of the fuel subsidy as a historic move that has unlocked unprecedented funds for state governments.
Speaking at his End-of-Year Media Chat in Port Harcourt on Monday, Wike said the subsidy removal has enabled states to prepare annual budgets exceeding N1 trillion, a sharp contrast to previous allocations.
He cautioned, however, that the sudden influx of funds has also triggered a scramble among some officials for their share of the “national cake.”
“During my eight years as governor of Rivers State, the highest allocation we ever received from the Federation Account was N200 billion in a year.
The records are there,” Wike said. “Today, states are budgeting over N1 trillion because the removal of the fuel subsidy has freed resources, but many are navigating these funds blindly.”
He also highlighted the financial limitations of the FCT, which receives just 1% of the Federation Account, a fraction he described as insufficient to cover basic operations.
“If the federal government gets N1 trillion, 1% is only N10 billion. That is not enough to pay salaries,” he said.
“We have had to rely on Internally Generated Revenue to keep the city running, yet we have still achieved notable results for residents.”
Despite the funding challenges, Wike touted ongoing transformative projects across the FCT, promising that even N500 billion could deliver significant improvements in infrastructure, education, health, and agriculture.
“These interventions, over time, will raise the standard of living for our people,” he said, noting that goodwill and strategic planning are as crucial as money in achieving sustainable development.
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