Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
Minister of the Federal Capital Territory, Nyesom Wike, has defended President Bola Tinubu’s decision to remove the petrol subsidy, insisting that the economic reform was necessary despite the hardship many Nigerians continue to experience.
Wike said Nigerians could begin to feel the benefits of the administration’s economic reforms within the next two to three years, acknowledging that low-income households are still struggling with rising fuel and food prices.
The minister made the remarks in comments reported on Tuesday, October 13, 2026, as he expressed confidence that the government’s policies would stabilise the economy and create the foundation for sustainable growth.
“The poor may be struggling now, but things will improve in two to three years,” Wike said, according to TVC News.
He argued that the removal of the petrol subsidy and other economic measures were difficult but necessary decisions to address longstanding economic challenges.
Wike also pointed to increased revenue available to state governments following subsidy removal, urging governors to use the additional allocations to improve public services and the welfare of residents.
According to him, the gains from the reforms should translate into better infrastructure, stronger public services and improved living conditions for Nigerians.
The minister cited developments in the education sector, including what he described as three years without university strikes, as well as infrastructure projects and pension payments, as indicators of progress under the Tinubu administration.
However, the continued rise in the cost of living has fuelled criticism of the policy, with opposition figures questioning whether the benefits of subsidy removal have adequately reached ordinary citizens.
Former Vice-President Atiku Abubakar has also criticised the government’s recent 30-day petrol discount initiative, questioning whether temporary relief would address the wider cost-of-living crisis. The Federal Government has maintained that the discount, implemented through the Nigerian National Petroleum Company Limited, is not a return to the former blanket subsidy regime.
The Presidency announced on October 8 that NNPC Retail would forgo its petrol retail profit margin for a limited period to cushion the impact of rising global oil prices. The measure was initially set to run for 30 days and was later extended through October 31.
Tinubu announced the removal of the petrol subsidy during his inauguration on May 29, 2023. The decision increased pressure on fuel prices and household expenses, while the government has argued that the reform would free up resources for public spending and economic development.
Wike’s latest remarks suggest that the administration expects the wider benefits of its reforms to become more visible over the coming years, even as many Nigerians continue to face immediate financial pressure.
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