The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has commended President Bola Tinubu for his bold, reform-driven leadership, particularly the removal of the fuel subsidy, describing it as a challenging yet transformative decision that has begun to stabilise Nigeria’s economy.
Speaking on Thursday at the 2025 Innovate Africa Conference in Abuja, Wike noted that the President’s courage in taking such an unpopular step has significantly increased revenue allocation to all tiers of government.
According to him, “The day Mr President decided to remove fuel subsidy, I don’t know how many people would have been in a position to take that decision. So bold, very difficult decision. But sacrifices must be made.
“Some of us were even crying, asking how he could remove fuel subsidy when the masses are suffering. But by the grace of God, that decision, though very tough, has started yielding results. Things are stabilising.”
The FCT Minister revealed that states, local governments, and the Federal Government now share over N2 trillion monthly from the Federation Account —an unprecedented figure in Nigeria’s fiscal history.
“In the past, we never had up to N500 billion in a month for the federation. I’ve never received more than N10 or N15 billion in a month,” Wike stated. “Today, not less than N2 trillion is being shared every month. Why? Because of the removal of fuel subsidy.”
Wike, who delivered the keynote address titled “Reimagining Africa’s Leadership and Investment,” said Africa stands at a “historic crossroads,” endowed with vast natural and human resources yet constrained by weak institutions, infrastructural decay, poverty, and unemployment.
“How can a continent so richly endowed remain so constrained?” he queried, attributing the stagnation to Africa’s culture of transactional politics that rewards loyalty over competence and personal ambition over national interest.
He urged leaders across the continent to shift toward transformational governance that empowers rather than exploits, and serves rather than rules.
“The time has come to move beyond transactional leadership to embrace transformational governance that empowers rather than exploits, serves rather than rules, and builds rather than blames,” he said.
“Leadership is the fulcrum upon which the destinies of nations turn. Visionary and accountable leaders can turn even the toughest challenges into opportunities.”
Wike also cited Abuja’s ongoing infrastructural renewal as a testament to what political will can achieve, noting that “roads once impassable now connect communities, and abandoned spaces now thrive with enterprise.”
He praised President Tinubu’s “courageous and reform-driven leadership,” saying the fuel subsidy removal that others feared to touch is now driving economic stability and development funding.
“Tinubu demonstrated uncommon courage by confronting Nigeria’s toughest challenge, subsidy removal, a decision that is already yielding dividends in increased revenue and improved governance,” Wike affirmed.
The FCT Minister later received the Innovate Africa Leadership Award 2025 in recognition of his contributions to transformative governance and urban renewal.
He used the occasion to call on African leaders to rediscover the ethos of servant leadership rooted in empathy, humility, and shared responsibility.
“Africa needs servant leaders, not bosses who command but mentors who inspire. Leadership is not about power or position; it is about trust, service, and shared purpose,” he declared.
Wike further stressed the need for Africa to achieve economic independence by reducing dependence on foreign aid and promoting home-grown investments.
“For too long, Africa has looked outward for solutions that can only come from within. Aid has become a crutch that weakens our resolve. The time has come for Africa to take ownership of its destiny,” he said.
He identified Africa’s youth population as the continent’s greatest asset.
“Seventy per cent of Africa’s population is under 30. This is not a statistic; it is a revolution waiting to happen,” he said, adding that the continent’s second liberation must be economic, driven by full implementation of the African Continental Free Trade Area (AfCFTA).
“The AfCFTA is not just a trade agreement; it is a declaration that Africa will no longer be a supplier of raw materials and a dumping ground for finished goods,” he added.
In his address, Sam Ohuabunwa, former President of the Pharmaceutical Society of Nigeria and founder of the New Nigeria Group, lamented that Africa’s slow progress stems from the capture of political power by vested interests rather than competent leaders.
“Government in many African nations has become largely a prize of clan enterprise, where offices are shared as rewards for loyalty or campaign funding,” he said. “This undermines competence and slows national progress.”
Ohuabunwa called for a “power metamorphosis” across the continent—entailing decentralisation, empowerment, adaptability, and innovation.
“Nations rise or fall on the quality of their political leadership,” he noted, urging Africa to move from aid dependency to strategic partnerships and from self-interest to the common good.
He also advocated reforms in leadership recruitment, including reducing the influence of money in politics, enforcing term limits, and removing age barriers that exclude youth from governance.
Co-founder of Innovate Africa, Uloma Onyebuchi, described the conference as a movement “dedicated to celebrating African excellence, amplifying local innovation, and inspiring transformation from within.”
She added that sustainable development across Africa hinges on governance that inspires trust, technology that connects people, and leadership that empowers communities.
