President Bola Tinubu says the increase in petrol price is a “bold and unprecedented decision” necessary for Nigeria’s growth.
Tinubu spoke on Friday at a meeting with Nigerians in Beijing, China, after rounding off his official engagements in the country.
In a statement by Ajuri Ngelale, presidential spokesperson, Tinubu said the petrol price hike and other reforms by his administration are part of an overall strategy to set Nigeria on the path of economic growth.
“Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices,” the president was quoted as saying.
“But, can we help it? Can we develop good roads like you have here? You see electricity being constant in quantity and quality. You see water supply, constant and running, and you see their good schools. And we say we want to hand over a banner without stain to our children?
“What is the critical part to get us there if we cannot take hard decisions to pave the way for a country that is blessed and so talented?
“So many of you are so talented, speaking very fluent Mandarin. It is what you contribute and tell them at home that will reflect in the attitude of our people.
“The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development.’’
On September 3, the Nigerian National Petroleum Company (NNPC) Limited increased the pump price of petrol to N855 across its retail outlets amid long queues at filling stations.
The development followed a protracted scarcity which has strained business activities nationwide.
Media reports attributed the price adjustment to a directive of the federal government asking the NNPC to sell at N1,000 but Heineken Lokpobiri, minister for petroleum resources (oil), said the ministry never gave the national oil company such a directive.
Tinubu said while it is not always easy to have a national consensus on issues, he is ready to take the hard decisions to move the nation forward.
“One economic action leads to another, and it is in your hand to build our nation. Mine is to provide the leadership, and I am committed to doing just that. We are focused, and I have a very good team,” the president said.
Tinubu added that he is committed to replicating China’s infrastructure in Nigeria.
