‘Fuel Subsidy Was a Big Scam,’ ex-minister Ikoh says, hails Tinubu’s policy shift

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By Steve Oko

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Henry Ikoh, former Minister of Science and Technology, has described Nigeria’s previous fuel subsidy regime as a “monumental scam” that enriched only a few while depriving the masses, praising President Bola Ahmed Tinubu’s decision to scrap the policy as transformative for state economies.

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Speaking at the inauguration of the Renewed Hope Ambassadors in Bende, Umuahia South, and Umuahia North Local Government Areas of Abia State, Ikoh said the removal of subsidies has released significant funds to subnational governments, allowing them to meet salary obligations, invest in infrastructure, and provide social services.

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“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 said.

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He highlighted that states previously burdened by debts can now pay salaries without borrowing, with some even implementing a minimum wage of N100,000. He also cited federal initiatives such as interest-free student loans as evidence of a reform-driven administration.

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Ikoh urged the South-East, including Abia State, to align strategically with the federal government, describing politics as a matter of interest rather than sentiment. He also tasked members of the Renewed Hope Ambassadors to mobilize grassroots support for President Tinubu and APC candidates ahead of the 2027 elections.

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Other stakeholders at the event, including Chief Emmanuel Egwu, former Council Chairman Chief Charles Ekwueme, and former Abia APC Woman Leader Lady Franca Osuwa, echoed support for Tinubu, noting the region stands to benefit from backing the centre in the upcoming polls.

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The gathering also featured former APC state leaders and lawmakers, including Dr. Emmanuel Ndukwe, Ikedi Ezekwesiri, Chidi Nwosu, and Uche Nwankpa, who is Deputy Coordinator of Renewed Hope Ambassadors in Abia State.

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