Fuel Price Pains: Nigerians Still Better Off Than Peers — Bola Ahmed Tinubu
President Urges Patience Amid Rising Hardship, Blames Global Economic Pressures
By Rimawaglobalnews
The President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, has acknowledged the severe impact of rising fuel prices on Nigerians, while urging citizens to remain hopeful, stressing that the country’s situation remains comparatively better than that of several African nations.
Speaking during an official visit to Bayelsa State on Friday, where he commissioned multiple projects, the President admitted that the economic strain—particularly the surge in petrol prices—has placed significant pressure on households across the country.
“The fuel price is biting hard,” Tinubu stated, “but Nigerians should take solace in the fact that conditions in some countries, including Kenya and others across Africa, are more challenging.”
The President assured that his administration remains committed to implementing measures aimed at cushioning the effects of ongoing economic reforms, particularly for vulnerable citizens.
He emphasized that the current hardships are partly driven by global economic realities beyond Nigeria’s control.
Tinubu further noted that his government is reviewing fiscal strategies in collaboration with key economic institutions to ease the burden on Nigerians.
Since assuming office in May 2023, the administration has introduced major economic reforms, including the removal of fuel subsidy and the liberalization of the foreign exchange market. While these policies are designed to stabilize the economy in the long term, they have triggered inflationary pressures and a sharp increase in the cost of living.
Recent global geopolitical tensions—especially involving the United States, Israel, and Iran—have also contributed to disruptions in energy markets, further pushing petrol prices in Nigeria beyond ₦1,200 per litre.
The government has reiterated its commitment to mitigating the impact of these challenges while pursuing sustainable economic growth.
