The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that no state government in Nigeria currently requires a federal bailout under President Bola Tinubu’s administration, describing the development as a significant problem resolved.
Speaking on Channels Television’s “Politics Today” on Tuesday, Wike emphasized the improved financial health of Nigerian states, contrasting it with the frequent bailouts that were common in previous administrations.
“I was one of those who took the bailout. Today, no state is going to the Federal Government for bailouts. Today, no local government is going to the state for bailouts. Which means a problem has been solved,” he said.
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His comments follow reports indicating that increased revenue allocations from the Federation Account have considerably enhanced states’ financial liquidity.
Wike also defended the Tinubu administration against critics, noting that two years in office is insufficient to resolve long-standing structural challenges.
He highlighted what he considers key accomplishments, including recent commendations from the United States and the United Kingdom for Nigeria’s efforts in combating insecurity.
“For the first time, look at the United States, the United Kingdom commended the Nigerian government. Terrorists that they had been looking for years, this government, through their security agents’ efforts, arrested them,” Wike said.
The Minister further pointed to positive economic indicators, observing that fuel prices are “coming down a bit” and citing confirmation from the President of the World Trade Organisation (WTO) that Nigeria’s economy is stabilizing.
“We commend them. What does that mean? Yes, we suffered as a result of the activities of these terrorists. But from what it looks like now, we have really penetrated, and this insecurity is coming down. We must commend the government that they have put up efforts.
“Today, the price of fuel is coming down a bit. The President of the World Trade Organisation also confirmed that the economy is being stabilised,” he added.
