FCT Minister Nyesom Wike has defended President Bola Tinubu’s administration, asserting that he inherited a “dead economy” on the brink of collapse when he took office in May 2023.
Speaking at a governance forum on July 4, 2025, Wike argued that Nigeria’s economic woes, including a 97% debt-service-to-revenue ratio and 19,835 insecurity deaths from 2021-2023, left the nation “about to be buried.” He credited Tinubu with stabilizing the situation, citing a 500% rise in external reserves to $23 billion and a fiscal deficit drop from 5.4% to 3.0% of GDP by 2024.
Wike contrasted this with ex-Minister Rotimi Amaechi’s tenure, accusing him of inaction during bombings like the 2016 Kaduna train attack. Supported by 60% of APC loyalists, Wike highlighted $8 billion in new oil investments and a 400% surge in rig counts, though critics note 22,778 deaths since 2023 challenge security claims.
The statement, amid 33% inflation, aims to bolster Tinubu’s image ahead of 2027, with Wike urging a N2 trillion infrastructure push. Opposition figures, including Amaechi, dispute the narrative, calling it propaganda.