PRESIDENT Bola Tinubu has addressed the recent rise in Premium Motor Spirit (PMS) prices, commonly known as petrol.
Speaking to Nigerians in China today, Tinubu explained that the petrol price increase and other reforms under his administration are part of a broader plan to set Nigeria on the path of economic growth.
“Nigeria is undergoing reforms, and we are making bold, unprecedented decisions. For instance, you may have heard about the fuel prices back home in recent days,” presidential spokesman Ajuri Ngelale quoted Tinubu as saying.
He continued, “How can we achieve progress if we avoid tough decisions that pave the way for a country so richly blessed and talented? The more we demand everything for free, the costlier and slower our path to meaningful development becomes.”
The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday, raised petrol prices to N855 at its retail outlets, causing long queues at filling stations. This move sparked criticism from Nigerians and various groups, urging the Federal Government to reconsider the decision.
The price hike occurred amid fuel scarcity and worsening inflation, further compounding the challenges facing Nigerians.
During the Beijing meeting, Tinubu defended the move, stating that tough decisions are necessary for economic prosperity.
“But can we avoid it? Can we develop quality roads like the ones you see here? Reliable electricity and water supply? Good schools? If we want to leave a proud legacy for our children, we must take these steps,” Tinubu asserted.
He commended the talents of Nigerians living abroad, many of whom speak fluent Mandarin, emphasizing the importance of their contributions to the country’s future.
Acknowledging that national consensus is not always easy to achieve, Tinubu reaffirmed his willingness to make difficult choices to move Nigeria forward.
He also expressed his commitment to replicating China’s infrastructure in Nigeria, saying, “Economic actions are interconnected, and it’s in your hands to help build our nation. My role is to provide leadership, and I’m fully committed to that. We have a clear focus, and I have a capable team in place.”