President Bola Tinubu has defended the recent increase in petrol prices, describing it as a bold and unprecedented move essential for Nigeria’s progress.
Speaking on Friday, September 6, at a meeting with Nigerians in Beijing, China, after completing his official engagements there, Tinubu addressed the decision. He emphasized that the petrol price hike and other reforms implemented by his administration are integral to Nigeria’s economic development strategy.
“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 stated.
“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.”
The price of petrol was increased to N855 per litre at Nigerian National Petroleum Company (NNPC) Limited’s retail outlets on September 3. This adjustment followed a protracted fuel scarcity that has disrupted business activities nationwide.
Reports indicated that the price adjustment might have been influenced by a federal government directive for the NNPC to sell at N1,000 per litre. However, the Minister of Petroleum Resources clarified that no such directive had been issued.
Tinubu acknowledged the difficulty in achieving national consensus on issues but reaffirmed his commitment to making tough decisions for the nation’s advancement.
“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.
The president also expressed his intention to replicate China’s infrastructure successes in Nigeria.
