President Bola Tinubu has described the recent increase in petrol prices as a “bold and unprecedented decision” necessary for Nigeria’s economic growth and development.
Speaking on Friday during a meeting with Nigerians in Beijing, China, Tinubu emphasized that the reforms his administration is implementing, including the petrol price hike, are critical to setting the country on a path toward sustainable progress.
“We are making bold and unprecedented decisions. For example, you may have heard about the recent fuel price changes,” the president stated, according to a press release from Ajuri Ngelale, the presidential spokesperson.
Tinubu underscored the importance of these reforms, noting that Nigeria’s infrastructure and services must improve if the country is to develop. “Can we develop good roads, constant electricity, and running water like you have here in China if we refuse to take difficult decisions?” he asked. “We want to hand over a banner without stain to our children, but how can we achieve that if we shy away from the hard choices required?”
Addressing the importance of sacrifice for long-term gains, Tinubu noted, “The more we demand free services, the more costly and delayed meaningful development becomes.”
On September 3, the Nigerian National Petroleum Company (NNPC) Limited raised the pump price of petrol to N855 per liter across its outlets, triggering long queues at filling stations and further straining business activities nationwide.
While initial media reports suggested that the price increase followed a directive from the federal government to sell at N1,000 per liter, Heineken Lokpobiri, Minister of Petroleum Resources (Oil), denied any such directive was issued to the NNPC.
