President Bola Tinubu has broken his silence on the increase in the price of Premium Motor Spirit (PMS), popularly known as petrol.

Tinubu ,who addressed Nigerians living in China on Friday, said the petrol price hike and other reforms by his administration are part of an overall strategy to set Nigeria on the path of economic growth.

“Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices,” presidential spokesman, Ajuri Ngelale, quoted Tinubu as saying.

“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 more you want everything free; it will become more expensive and long-delayed to achieve meaningful development,” he said.

On Tuesday, the Nigerian National Petroleum Company Limited (NNPCL) hiked the pump price of petrol to N855 across its retail outlets amid long queues at filling stations.

The situation drew condemnation from many Nigerians and groups who asked the Federal Government to reverse the decision.

It comes amid the scarcity of petrol as well as the worsening inflation that has subjected Nigerians to further hardship.

At the Beijing meeting, Tinubu defended the decision, saying hard decisions are crucial to economic prosperity.

“But, can we help it? 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?

“So many of you are so talented, speaking very fluent Mandarin. It is what you contribute and tell them at home that will reflect in the attitude of our people.”

The President stated that though it is not always easy to have a national consensus on issues, he is ready to take the hard decisions to move the nation forward.

Tinubu added that he is committed to replicating China’s infrastructure in Nigeria.

“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. We are focused, and I have a very good team,” he added. (Channels TV)

Update news