In a recent address to Nigerians living in China, President Bola Tinubu broke his silence on the controversial increase in the price of Premium Motor Spirit (PMS), commonly known as petrol. Speaking at a meeting in Beijing on Friday, Tinubu defended the petrol price hike, explaining that the reforms undertaken by his administration are crucial for setting Nigeria on the path of sustainable economic growth.
The Nigerian National Petroleum Company Limited (NNPCL) recently raised the pump price of petrol to N855 per liter, sparking widespread criticism and protests from Nigerians, who argue that the move has further worsened inflation and intensified hardships. However, President Tinubu emphasized the need for tough decisions, stating, “Nigeria is going through reforms, and we are taking very bold and unprecedented decisions.” He argued that avoiding hard choices would hinder meaningful development and economic progress, underscoring his commitment to replicating China’s infrastructure successes in Nigeria.
While the price hike has led to long queues at filling stations and widespread discontent, Tinubu remained firm in his stance, noting that Nigeria’s economic transformation requires sacrifices. “The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development,” he remarked. Tinubu also stressed the importance of national consensus, noting that his administration is focused on leadership and progress, supported by a capable team to navigate the challenges ahead.
