The Federal Government has said that the main reason why it increased the fuel price was because the country was broke.
Nigeria’s foreign earnings had drastically reduced in recent times and the only way to generate funds for the Nation is to increase fuel price seeing that it's a commodity that is heavily depended on by Nigerians.
The Minister for Information, Mr Lai Mohammed while briefing newsmen yesterday said:
“The current problem is not really about subsidy removal. It is about the fact that Nigeria is broke. Pure and simple.
“It is like when somebody who has been earning N100,000 a month is faced with a situation where his employer says, henceforth you will be earning N10,000 a month. He would need to make some very painful decisions and some very painful adjustments. That is the situation with Nigeria today."
Nigeria’s foreign earnings had drastically reduced in recent times and the only way to generate funds for the Nation is to increase fuel price seeing that it's a commodity that is heavily depended on by Nigerians.
The Minister for Information, Mr Lai Mohammed while briefing newsmen yesterday said:
“The current problem is not really about subsidy removal. It is about the fact that Nigeria is broke. Pure and simple.
“It is like when somebody who has been earning N100,000 a month is faced with a situation where his employer says, henceforth you will be earning N10,000 a month. He would need to make some very painful decisions and some very painful adjustments. That is the situation with Nigeria today."
posted from Bloggeroid
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