Tinubu Says Nigerians Better Off Despite Fuel Hike

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 comparatively better positioned than some others.

The President made the remarks on Friday during a visit to Bayelsa State, where he inaugurated several projects.

Addressing concerns about 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.”

He compared Nigeria’s situation with that of other African nations, stressing that such challenges are not unique to the country.

“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.

The President stated that the government is working to ease the burden on citizens and attributed the economic strain partly to 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 said.

Since assuming office in May 2023, the Tinubu administration has introduced a series of economic reforms, including the removal of the petrol subsidy and the floating of the naira.

While these policies are intended to support long-term economic stability, they have contributed to increased hardship for many Nigerians, driven by rising inflation and a sharp increase in the cost of living.

The situation has been further worsened by recent geopolitical tensions involving the United States, Israel, and Iran, which have disrupted global energy markets.

More recently, petrol prices in Nigeria have risen to over ₦1,200 per litre.