“Fuel Prices Biting Hard” — Tinubu Tells Nigerians to Be Thankful Despite Hardship

President Bola Tinubu has acknowledged the growing hardship caused by rising fuel prices but urged Nigerians to remain grateful, saying the country is still better positioned compared to other African nations.

Speaking during a visit to Bayelsa State on Friday where he inaugurated several projects, 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.”

Comparing Nigeria to Kenya and Others

The President compared Nigeria’s situation with other African countries, adding: “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.”

Fuel Prices Hit Over N1,200 Per Litre

Since Tinubu assumed office in May 2023, his administration has removed the petrol subsidy and floated the naira — policies aimed at long-term stability but which have driven inflation and a sharp surge in the cost of living. Petrol prices have now climbed to over N1,200 per litre at most filling stations.

The situation has been further exacerbated by the ongoing Iran-US conflict in the Middle East, which has disrupted global energy markets. Brent crude recently hit $102 per barrel before dropping to around $96 following reports of a temporary ceasefire agreement. Dangote Refinery briefly raised its gantry price to N1,275 per litre before reversing it back to N1,200 within 24 hours — highlighting just how volatile the market has become.

Blaming Global Factors

Tinubu blamed the economic strain on global factors beyond Nigeria’s control. “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 stated, while directing the Head of Service to work with finance and budgeting officials to ease the burden on citizens.

The President’s comments are likely to draw mixed reactions from Nigerians already grappling with soaring food prices, transport costs, and a naira that continues to face pressure despite recent reforms.

Sources: Channels TV, Daily Post, Business Insider Africa