According to a report by Symfoni TV, on Saturday October 18, 2025, Political analyst Hon. Shedrach Udugbai has launched a blistering critique against the management of public funds under the leadership of former Rivers State Governor and current FCT Minister, Nyesom Wike, alleging a pattern of massive over-costing of government projects.
Udugbai questioned the celebratory tone surrounding the completion of projects, arguing that the reported costs often bear no relation to the actual market value or public benefit derived.
“People say Nyesom Wike has been tying roles and I asked to what expense and cost,” Udugbai stated, setting the stage for his concerns about financial prudence.
He then presented a striking hypothetical example to illustrate the scale of the alleged mismanagement.
“A project that will cost over 200 million Naira you appropriate 2 billion Naira to it and the project is completed,” he said.
The analyst insisted that such exorbitant spending, even for a completed project, should not be viewed as an achievement.
“Does not hold the value does not turn out the value does not retain such value and want us to celebrate such a reckless deployment of resources,” Udugbai concluded, calling into question the sustainability and financial morality of the projects in question. See, More, Here>>>>
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