President Bola Tinubu has addressed the recent increase in the price of Premium Motor Spirit (PMS), commonly known as petrol, breaking his silence on the contentious issue.
Speaking to Nigerians in China on Friday, Tinubu framed the petrol price hike and other recent reforms as essential steps in a broader strategy to propel Nigeria towards economic growth.
According to presidential spokesman Ajuri Ngelale, Tinubu emphasized that the petrol price increase is part of a series of bold and unprecedented decisions aimed at steering Nigeria onto a path of sustainable development. “Nigeria is undergoing significant reforms, and we are making tough decisions to pave the way for a country rich in talent and resources,” Tinubu said.
He acknowledged the public’s frustration, especially following the Nigerian National Petroleum Company Limited’s (NNPCL) recent hike in petrol prices to N855 per liter, which has resulted in long queues at filling stations. This price increase has sparked widespread condemnation and calls for the Federal Government to reverse the decision, amid existing petrol shortages and worsening inflation.
Tinubu defended the price hike, arguing that such hard decisions are necessary for achieving economic prosperity. “If we desire to build infrastructure like you see here good roads, consistent electricity, reliable water supply, and quality education we must be willing to make difficult choices,” he stated.
The President drew a parallel between Nigeria and China, noting the impressive infrastructure in China and expressing his commitment to replicating similar developments in Nigeria. He urged Nigerians to contribute positively and engage in shaping the nation’s future.
Tinubu also acknowledged the challenges of achieving national consensus on complex issues but reiterated his readiness to make tough decisions for the nation’s advancement. “One economic action leads to another, and it is up to us to build our nation. I am committed to providing the necessary leadership and working with a dedicated team to achieve our goals,” he concluded.
