The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that no state government in Nigeria is in need of a federal bailout under the administration of President Bola Tinubu, a situation he described as a significant problem solved.
Speaking on Channels Television’s “Politics Today” on Tuesday, Wike highlighted the improved financial standing of states, contrasting it with the frequent financial bailouts that characterized 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.
This statement comes amidst reports that increased revenue allocations to states from the Federation Account have significantly boosted their financial liquidity.
The Minister also defended the Tinubu administration against critics, stating that two years in office is not enough to solve decades of inherent problems.
He pointed to what he considers to be key achievements, including recent commendations from the United States and the United Kingdom for the Nigerian government’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 also cited positive economic indicators, noting that the price of fuel is “coming down a bit” and that the President of the World Trade Organisation (WTO) has confirmed that the Nigerian economy is being stabilised.
“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,” the minister said.
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