Nyesom Wike, Minister of the Federal Capital Territory (FCT), revealed on Thursday that states currently receive ₦2 trillion each month from federal funds.
Speaking at the 2025 Innovate Africa Conference in Abuja, he revealed the information.
According to the Minister, the elimination of the fuel subsidy has allowed states to share ₦2 trillion each month.
“500 billion naira in a month for the federation,” he stated. Never. My monthly income has never exceeded 10 to 15 billion.
States now share a minimum of $2 trillion per month. Why? due to the elimination of the fuel subsidy.
Despite the initial public outcry over the elimination of fuel subsidies, Wike observed that things had started to stabilize.
“You may not be right, but you have to make a decision, and that’s what this current government is doing,” he said.
“People tend to forget our location from yesterday. I’m not sure how many individuals will be able to make that decision on the day Mr. President decides to eliminate the fuel subsidy. So brave, such a tough choice. However, some of us began to protest, “How can you remove fuel subsidy?” since sacrifices must be made. The whole public is in pain.
But by God’s grace, he made a very tough choice that resulted in several prices being grouped together and the price of fuel rising. Today, however, things are stabilizing.
