‘Fuel subsidy was a big scam’ – Ex-minister Ikoh

—Says Tinubu vindicated as states now reap windfall

By Steve Oko

Former Minister for Science and Technology, Chief Henry Ikoh, has delivered a scathing verdict on Nigeria’s former fuel subsidy regime, branding it a “monumental scam” that enriched only a privileged few while depriving the masses.

Ikoh declared that recent economic gains across states have vindicated President Bola Ahmed Tinubu’s bold decision to scrap the controversial subsidy, insisting the move has unlocked unprecedented resources for subnational governments.

Speaking during the inauguration of Renewed Hope Ambassadors in Bende, Umuahia South, and Umuahia North Local Government Areas of Abia State, Ikoh, who coordinates the group in the state, said the policy shift had fundamentally altered Nigeria’s fiscal landscape.

According to him, the end of subsidy payments has dismantled a long-standing system in which “a few oil merchants became overnight billionaires at public expense,” freeing up funds that are now driving visible development nationwide.

“Fuel subsidy was a big scam. A handful of individuals cornered resources meant for Nigerians. Today, that leakage has been blocked, and the impact is clear – states have more money, and development is accelerating,” Ikoh stated.

He argued that many states, once crippled by debt burdens, can now meet salary obligations without borrowing, while others pay a minimum wage of N100,000.

Ikoh pointed to improved federal allocations, noting that states now receive multiples of their previous earnings, enabling investments in infrastructure and social services.

He also cited federal initiatives such as interest-free student loans as evidence of a reform-driven administration.

Describing the economy inherited by President Tinubu as being “on ground zero,” the former minister said ongoing reforms are steadily reviving growth and restoring fiscal stability.

Ikoh urged Abia State and the wider South-East to abandon what he described as “unproductive regional sentiments” and align strategically with the centre.

“Politics is about interest, not sentiment. The South-East stands to gain more by reconnecting with the centre,” he said.

He charged members of the Renewed Hope Ambassadors to mobilise grassroots support ahead of the 2027 elections, declaring their mandate to deliver both President Tinubu and all All Progressives Congress (APC) candidates in Abia State.

Coordinators across the LGAs, including Chief Emeka Enyama (Umuahia South), Hon. Eze Okwulehie (Umuahia North), and Ibuchim Okorie (Bende), pledged total commitment to the President’s re-election bid.

Coordinator of the City Boys Movement in Umuahia South LGA, Chief Emmanuel Egwu, and a former Council Chairman, Chief Charles Ekwueme, also canvassed strong support for  Tinubu.

Egwu urged South-East voters not to “repeat the mistake of 2023” by failing to align with the centre, insisting that the President’s path to a second term remains formidable.

He referenced the warm reception accorded the President during a recent state visit to London as evidence of growing international acceptance, arguing that it would be politically unwise to oppose him.

“If he became President in 2023 against all odds, now that he is in office and delivering, what will stop him? It will take only God, and even God is not willing to stop him,” Egwu said.

In her remarks, former Abia APC Women Leader, Lady Franca Osuwa, said the South-East stands to gain more by fully backing the President in 2027.

“We gave him little support in 2023, yet he has accommodated us. Imagine what we stand to gain if we rally behind him this time,” she said.

Other stakeholders at the event included the former Chairman of the Governing Board of the Joint Admission and Matriculation Board (JAMB ) and APC first Chairman in Abia State, Dr Emmanuel Ndukwe; former lawmakers – Ikedi Ezekwesiri, Chidi Nwosu, and Uche Nwankpa, who is the Deputy Coordinator of Renewed Hope Ambassadors in Abia.

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