FCT Minister Nyesom Wike has contended that President Bola Tinubu’s administration assumed control of an extremely frail economy, describing the nation as being ‘on the brink of being buried.’
Wike said this stance during an appearance on Channels Television’s ‘Politics Today’ programme yesterday night.
The former governor of Rivers State also refuted allegations that the current government is responsible for damaging Nigeria’s economic landscape. “He took over an economy that was utterly dismantled, completely gone,” Wike declared during the broadcast.
He further asserted, “Nigeria was prepared for burial. Fortunately, it hasn’t been interred. Someone [Tinubu] arrived and declared, ‘No, I will not permit your burial’”.
President Tinubu assumed office in May 2023, succeeding fellow party member Muhammadu Buhari after his eight-year tenure.
Early in his presidency, Tinubu implemented significant economic reforms, including the immediate removal of the controversial fuel subsidy and the floating of the Naira.
These policies have undeniably led to a sharp increase in the cost of living, drawing widespread public protests and criticism directed at the Tinubu administration’s economic management.
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Wike’s comments come just a day after Rotimi Amaechi, a former minister under the Buhari government, made a contrasting claim on the same program, alleging that the “current government has completely buried the economy.”
Despite being a prominent member of the opposition Peoples Democratic Party (PDP), Wike is a key figure within the Tinubu-led All Progressives Congress (APC) Federal Government. He has consistently defended the subsidy removal and the President’s broader economic strategies.
Regarding the fuel subsidy’s abolishment, Wike stated that every candidate agreed it was a fraudulent scheme. “So, what was to be done? He [Tinubu] arrived and declared, ‘I will not tolerate this any longer. It must cease’.”
While acknowledging the significant challenges posed by the policy, including a dramatic rise in fuel prices from approximately N200 to around N1,000 per litre, Wike maintained that the move has led to a substantial increase in financial resources available to state governments.
“A considerable amount of funds will now be channelled to the states or the federating units,” the former governor emphasised. “There’s an abundance of money at the state level, whether anyone acknowledges it or not. There’s so much money.”
The Minister advocated for public support for the administration, arguing that a mere two years is an insufficient period to fully assess President Tinubu’s impact.
He lauded the President for his decisive actions and the implementation of policies designed to steer the nation’s economy in a positive direction.
