Di Minister of Finance and Coordinating Minister of di Economy, Prof. Taiwo Oyedele, don talk say federal allocation alone no fit make Nigerian states rich. E urge di states to find dia own ways to make money and grow dia economy.

E also say Nigeria don save about N15.8 trillion from di removal of fuel subsidy and di way dem open up foreign exchange market from June 2023 to December 2025. But e talk say di reforms no mean say Federal Government get plenty cash wey pipo dey think.

Di minister still say di Federal Government salary bill dey pass di money wey dem save from subsidy removal. But e insist say di reforms don help reduce how much di government dey borrow.

Oyedele talk dis one yesterday for Owerri, Imo State, during di 2026 National Council on Finance and Economic Development (NACOFED) conference. E tell di states say dem need to look beyond federal allocation and build dia own capacity to produce so dat dia economy go strong.

E call for stronger fiscal federalism, better ways to generate revenue, and make economy no depend on one tin only, so dat Nigeria go fit handle any economic wahala wey come. E say, "Nigeria must move from allocation-dependent economy to one wey production, investment, and job creation dey drive am."

According to am, di recent economic reforms—like removing fuel subsidy and bringing all exchange rates togeda—don increase di money wey dey share through federation account. E say before 2023, monthly federation account allocation dey between N300 billion and N600 billion, but now e don pass N2 trillion.

E explain say from di N15.8 trillion wey di reforms bring, federal government get N5.43 trillion, state governments get N6.52 trillion, and local government councils get N3.88 trillion.