President Bola Tinubu has addressed the recent increase in the price of Premium Motor Spirit (PMS), commonly known as petrol.
Speaking to Nigerians in China on Friday, Tinubu explained that the rise in petrol prices, along with other reforms implemented by his administration, is part of a broader strategy aimed at steering Nigeria toward economic growth.
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“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,” presidential spokesman, Ajuri Ngelale, quoted Tinubu as saying.
“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?
“The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development.”
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On Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) increased the pump price of petrol to N855 at its retail outlets, leading to long queues at filling stations.
The move has faced strong criticism from many Nigerians and various groups, who have called on the Federal Government to reverse the decision.
This price hike coincides with a petrol shortage and rising inflation, exacerbating the hardship for many Nigerians.
During a meeting in Beijing, President Tinubu defended the decision, emphasizing that difficult choices are essential for achieving economic prosperity.
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“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?
“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 President acknowledged that achieving national consensus can be challenging but expressed his readiness to make tough decisions for the nation’s progress.
Tinubu also affirmed his commitment to replicating China’s infrastructure successes in Nigeria.
“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,” he added.
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