President Bola Tinubu has acknowledged the growing hardship caused by rising fuel prices, while urging Nigerians to remain hopeful, noting that the country is still better positioned compared to some others.
The President spoke on Friday during his visit to Bayelsa State, where he inaugurated a number of projects.
Addressing concerns over the economic situation, Tinubu said, “I hear you from various angles of the economy. The fuel price is biting hard, but look around, let’s just thank God together that you are better off.”
Tinubu compared Nigeria’s situation with that of other African countries, noting that challenges are not unique to the nation.
“Listen to them in Kenya, in other African countries, what they are going through. We will not look back. We will continue to find ways to ameliorate the suffering of the vulnerable. This is a government that cares,” he added.
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The President said the government was working to ease citizens’ burden and blamed the economic strain on global factors.
“I am glad the Head of Service is here. Look at the numbers with the finance, economic planning, and budgeting, and we will see what we can do to ease the burden.
“But that is the development; the burden of it is what we are facing today. The challenge of the war we didn’t call for, but the effect of the interrelated world that we share. Both the joy and pain of it are universal,” he stated.
Since assuming office in May 2023, the Tinubu administration has implemented a series of economic reforms, including the removal of the petrol subsidy and the floating of the naira.
While the policies are aimed at long-term economic stability, they have led to increased hardship for many Nigerians, driven by rising inflation and a sharp surge in the cost of living.
The situation has been further exacerbated by recent geopolitical tensions in the Middle East, particularly involving the United States, Israel, and Iran, which have disrupted global energy markets.
More recently, petrol prices in Nigeria have climbed to over ₦1,200 per litre.
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