Wike defends subsidy removal, slams Atiku over policy u-turn

Nigeria's Minister of the Federal Capital Territory, Nyesom Wike, has strongly defended the Federal Government's decision to remove fuel subsidies. He accused former Vice President Atiku Abubakar of inconsistency and flip-flopping on the issue.

“

Now, in 2026, he is not going to remove the fuel subsidy. Is he going back to the fraud, which he had alleged that fuel subsidy was?

Wike, speaking in Abuja on Thursday, questioned Abubakar's rationale for promising to restore the subsidy after previously supporting its removal. "Now, in 2026, he is not going to remove the fuel subsidy. Is he going back to the fraud, which he had alleged that fuel subsidy was?" Wike asked. He labeled Abubakar a "voodoo economist," suggesting the former VP changes his positions merely to appeal to voters.

“

Atiku, who is confused, who acts like a voodoo economist, Atiku will say anything just to be president.

"Leadership is not you coming out, you say one thing now in the morning, in the afternoon you say a different thing, in the night you are talking of a different thing. That is not it," Wike stated, emphasizing the need for consistent policies in leadership.

“

Leadership is not you coming out, you say one thing now in the morning, in the afternoon you say a different thing, in the night you are talking of a different thing. That is not it.

The minister also questioned how Abubakar intended to reintroduce fuel subsidies, given the transformation of Nigeria's petroleum industry under the Petroleum Industry Act and the commercialization of the Nigerian National Petroleum Company Limited. Wike argued that restoring subsidies would contradict the Act's goals of making the sector commercially driven and competitive. He warned that such a move would create regulatory uncertainty, weaken investor confidence, and recreate distortions that Nigeria has tried to eliminate, ultimately subsidizing fuel consumption beyond Nigeria's borders.

“

He (Atiku) is living in the past. If not, he will know that with the Petroleum Industry Act, NNPC is now fully commercialised. It has transformed the old NNPC into a limited liability company, and no longer the sole importer or producer of fuel.