The Minister of the Federal Capital Territory (FCT), Nyesom Wike, recently shed light on the significant financial uplift experienced by state governments following President Bola Tinubu's decisive removal of the fuel subsidy. Speaking during his End-of-the-Year Media Chat in Port Harcourt on Monday, Wike lauded President Tinubu's "bold and courageous step," asserting that it has channeled substantial funds towards states, enabling some to now boast annual budgets exceeding N1 trillion.

Wike further elaborated on the implications of this increased financial flow, noting that astute Nigerians are keenly aware of the burgeoning wealth within states and are actively seeking their share of this "national cake" through various avenues. He underscored the potential for a general improvement in the quality of life for citizens, given the unprecedented financial resources now at the disposal of state governments. Consequently, he strongly urged residents to demand heightened accountability and transparency from their respective state governors, emphasizing that these funds should translate into tangible development and improved public services.

Drawing a stark contrast with his own tenure as governor of Rivers State, Wike revealed that he never encountered such financial largesse. He stated emphatically that throughout his eight years in office, his administration never received more than N200 billion annually from the Federation Account. "In all my life, as governor for eight years in Rivers, I never received from the Federation Account more than N200 billion in a year. The records are there," he affirmed, suggesting that many states are currently "blindfolded" by the sheer volume of money now available to them.

Shifting focus to the FCT, Minister Wike highlighted its unique financial structure and challenges. He expressed that if the FCT were to have N500 billion in its accounts, he would be able to perform "wonders." However, he pointed out that the FCT receives a mere one percent of the Federal Government's share from the federation account. Illustrating the inadequacy of this allocation, he explained, "Take for example, if FG gets N1 trillion, 1 per cent is N10 million and that is not enough to pay salary." This necessitates a heavy reliance on Internally Generated Revenue (IGR) to fund operations and development projects. Despite these limitations, Wike proudly showcased the administration's achievements, stating, "With the little we have got, we have been able to do the best that we can for the residents of FCT."

Beyond fiscal matters, Wike also touched upon broader governmental strategies and political dynamics. He acknowledged that while money is crucial, it possesses inherent limitations, emphasizing that "there were areas where money could not go but goodwill would take someone there." This sentiment extended to his confidence regarding the upcoming FCT Area Council elections, scheduled for February 2026. He expressed firm belief that candidates from the All Progressive Congress (APC) would emerge victorious, attributing this expected success to President Bola Tinubu’s goodwill and unprecedented interventions in the FCT Area Councils, which he believes will grant the APC candidates a distinct advantage.

Furthermore, Wike underscored that the FCT Administration's mandate extends beyond infrastructural development. He proudly stated that interventions have been made across critical sectors including education, health, and agriculture. These comprehensive efforts, he concluded, are strategically designed to enhance the overall standard of living for the people residing within the Federal Capital Territory.