…President says country better positioned than peers despite economic strain
…Blames global factors, pledges relief measures for vulnerable citizens
By Our Correspondent
President Bola Ahmed Tinubu has acknowledged the severe economic hardship facing Nigerians following the sharp rise in fuel prices, but urged citizens to remain hopeful, insisting that the country is still relatively better off than some others.
Speaking during a visit to Bayelsa State on Friday, where he inaugurated several projects, the President admitted that the soaring cost of petrol has placed significant pressure on citizens.
“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,” he said.
Tinubu compared Nigeria’s situation with developments in other African countries, including Kenya, stressing that the economic challenges are not unique to Nigeria.
“Listen to them in Kenya and 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.
The President further assured that his administration is exploring measures to ease the burden on citizens, noting that key government officials in finance, budgeting and economic planning have been directed to review the situation.
He attributed the current economic strain partly to global developments, including geopolitical tensions and interconnected economic shocks.
“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,” Tinubu stated.
Since assuming office in May 2023, Tinubu’s administration has introduced major economic reforms, notably the removal of petrol subsidy and the floating of the naira. While the policies are aimed at long-term stability, they have triggered inflationary pressures and a spike in the cost of living.
Petrol prices have recently surged to over ₦1,200 per litre, compounding the hardship faced by many Nigerians.
