Wike Defends Tinubu’s Economic Policies, Says President Inherited a “Dead Economy”

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has responded to criticisms from former Minister of Transport, Rotimi Amaechi, insisting that President Bola Tinubu inherited a near-collapsed economy when he assumed office in May 2023.

Speaking during an appearance on Politics Today, a Channels Television programme aired on Friday, Wike dismissed claims that Tinubu’s administration has worsened the nation’s economy.

“He took over an economy that was gone—totally gone. Nigeria was ready to be buried,” Wike said. “Luckily, it has not been buried. Someone [Tinubu] came and said, ‘No, I will not allow you to be buried.’”

Wike’s remarks come in response to Amaechi’s accusation that the Tinubu-led government had “completely buried” the Nigerian economy. Amaechi served as Minister of Transport under former President Muhammadu Buhari, who handed over power to Tinubu after completing his eight-year tenure.

Tinubu’s early presidency was marked by bold economic decisions, including the removal of fuel subsidies and the floating of the naira. These moves triggered a sharp increase in the cost of living and drew widespread protests and criticism.

However, Wike defended the policies, particularly the removal of fuel subsidies, which he described as necessary and long overdue.

“Take the fuel subsidy removal—everyone agreed it was a scam. So what do we do? Tinubu came and said, ‘I will not allow this again. It has to go,’” Wike said.

While acknowledging the hardships that followed, such as the rise in petrol prices from around ₦200 to nearly ₦1,000 per litre, Wike pointed out that state governments now have access to more revenue to implement development projects.