President Bola Ahmed Tinubu of Nigeria has defended the recent hike in petrol prices, describing the decision as part of a broader strategy to set Nigeria on a path to economic growth. Speaking to Nigerians in China at the Forum on China-Africa Cooperation in Beijing, Tinubu acknowledged the challenges brought by the price increase but emphasized the need for “hard decisions” to secure the country’s future.
“We are taking very bold and unprecedented decisions,” Tinubu said. “For example, you might have been hearing from home in the last few days about fuel prices. 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 President argued that expecting free services would lead to more expensive and delayed progress. “The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development,” he added.
Highlighting his commitment to replicating China’s infrastructure achievements in Nigeria, Tinubu noted, “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?”
Despite public outcry and demands for a reversal of the petrol price increase, Tinubu affirmed his readiness to make tough 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,” he stated.
The Nigerian National Petroleum Company Limited (NNPCL) recently raised the pump price of petrol to N855 across its outlets, sparking backlash from citizens facing worsening inflation and scarcity of the product. However, Tinubu reiterated that these reforms are essential for economic prosperity and aligning Nigeria with global standards.
