Nigeria’s political space is on fire after explosive comments from the Minister of the Federal Capital Territory, Nyesom Wike, who alleged that a staggering ₦600 billion sitting in Rivers State coffers has triggered a behind-the-scenes scramble by powerful politicians across the country. The revelation has ignited fresh controversy, suspicion, and accusations of political profiteering.
₦600 Billion That Changed Everything
The controversy centres on funds reportedly left in Rivers State after the lifting of emergency rule imposed by Bola Tinubu. According to the Speaker of the Rivers State House of Assembly, the state treasury held about ₦600 billion after the exit of the sole administrator, a disclosure that has now become a political flashpoint.
Wike’s Warning to Rivers Lawmakers
Speaking during a meeting with members of the Rivers State House of Assembly in Port Harcourt, Wike said the public disclosure of the funds was a grave mistake. He claimed it effectively “opened the door” for political actors from outside the state who, according to him, are now hovering around Rivers with one goal: access to the money.
“Nigerian Politicians Like Rivers Money”
In unusually blunt language, Wike alleged that certain politicians have perfected a formula for benefiting from Rivers State funds. According to him, the moment politicians start publicly praising the governor, attacking Wike, or claiming the President is “happy,” it often signals an attempt to secure a financial payoff.
Governor Confirms the Funds Exist
Rivers State Governor Siminalayi Fubara later confirmed the existence of the funds, stating that ₦300 billion was left in the treasury during his suspension and that ₦600 billion was available upon his return. However, he insisted the funds were being used responsibly and promised to present his stewardship to the people.
Assembly Raises Alarm Over Public Schools
The issue gained further traction when the Rivers Assembly questioned why public schools across the state remain in deplorable condition despite the availability of such massive funds. Lawmakers argued that part of the money should have been deployed to upgrade infrastructure and recruit qualified teachers.
Praise, Visits, and Political Calculations
Wike made veiled references to high-profile political visits to Rivers State, alleging that sudden endorsements, glowing praises, and public declarations of loyalty are often motivated by financial interest rather than genuine support. He described such actors as “political fraudsters” exploiting the situation.
Tinubu Factor and Abuja Signals
The debate intensified after senior federal officials reportedly conveyed messages that President Tinubu was pleased with developments in Rivers State. Wike suggested that such statements are routinely weaponised by political actors to justify access to state resources.
A State at the Centre of Power Struggle
Rivers State has long been a political and economic prize in Nigeria’s power equation. With ₦600 billion now publicly acknowledged, analysts say the state has become the epicentre of a new political battle that blends loyalty, betrayal, influence, and money.
Peace Pact and Lingering Tensions
Despite the heated rhetoric, Wike commended the Amaewhule-led House of Assembly for respecting the peace agreement brokered by President Tinubu during the Rivers political crisis. Still, his comments suggest that the struggle over Rivers’ financial resources is far from over.
