Fuel Subsidy: Wike Cautions Governors Against Lure Of Wealth

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has cautioned governors against being blinded by the allure of wealth, stressing that governance requires careful planning and not just financial power.

Wike stated this on Monday during a media parley in Port Harcourt, Rivers State capital, where he reflected on the current state of governance across Nigeria and the growing influence of money in politics.

According to the former Rivers State Governor, many politicians have allowed newfound financial inflows, especially following the removal of fuel subsidy to cloud their judgment.

“You have to be careful. Money can make you not to see well,” Wike warned. “You know, the kind of money governments have now, we never saw it back then. Most of them now think everything is about money.”

Wike recalled that during his eight years as governor of Rivers State, his administration operated under strict financial conditions, unlike the current era of increased federal allocations to states.

“All my life as governor for eight years, I never received such revenue. The records are there. Now you hear states budgeting over a trillion naira. Why? Because the removal of subsidy by the President who took a bold step has made money available to the states,” he said.

He, however, warned that the sudden availability of funds should not lead to waste or mismanagement.

“Money has its own limitation. People say money is everything. No. There are areas money can’t go, but goodwill can go. It’s not everything that you think money will work for,” Wike noted.The minister expressed concern that some Nigerian politicians now focus solely on financial gain rather than service delivery.

“It’s unfortunate. Nigerians now know there’s money in the system, and many have become smart about taking their own share of the cake,” he added.