Mr Oshiomhole likened naira printing under the former president’s watch to what happened during the regime of former Ugandan President Idi Amin.
The President Muhammadu Buhari administration says that it plans to phase out the fuel subsidy regime this year.
Mr Fashola said the federal government is worried and concerned about the devastating floods impacting many parts of the country.
“No administration in the history of Nigeria has done this much, especially at a time of scarcity of resources,” the minister told journalists on Monday.