Former Minister of State for Science and Technology Henry Ikoh has described Nigeria’s former fuel subsidy regime as a “big scam,” saying the policy enriched a privileged few while depriving ordinary citizens of funds that should have gone into development. He made the remarks at the inauguration of the Renewed Hope Ambassadors in Bende, Umuahia South and Umuahia North local government areas of Abia State, where he also urged stronger political support for President Bola Tinubu ahead of the 2027 elections.
Ikoh said the removal of fuel subsidy had freed up significant revenue for state governments, allowing many of them to pay salaries more regularly, improve infrastructure and expand social services. According to reports of his remarks, he argued that the old regime allowed “a handful of individuals” to corner resources meant for the wider population, while subsidy removal had blocked that leakage and improved the fiscal position of subnational governments.
He further claimed that some states which previously struggled under debt burdens can now meet salary obligations without borrowing, while others have gone as far as implementing a minimum wage of ₦100,000. Ikoh also pointed to the federal student loan programme as part of what he presented as a broader reform agenda under Tinubu, although those remarks reflected his political assessment rather than an independent audit of the administration’s economic record. Nigeria’s student loan scheme, managed through NELFUND, has indeed been widely described as interest-free.
The event was also political. Ikoh, who has been identified in recent reports as the Abia State Coordinator of the Renewed Hope Ambassadors, urged the South-East to align more strategically with the federal government, saying politics should be guided by interest rather than sentiment. He tasked members of the group with mobilising grassroots backing for Tinubu and APC candidates as preparations begin to gather pace for the 2027 general election.
Other party stakeholders at the gathering also voiced support for the president and argued that the South-East stood to gain from closer alignment with the centre. Their intervention highlights how economic reforms such as subsidy removal are increasingly being folded into the APC’s early political messaging ahead of 2027, especially in regions where the party is seeking to expand its influence.
