The minister of information and culture,
Lai Mohammed revealed to journalists on
Wednesday, May 18, 2016, that Nigeria is broke.
He said this after a Federal Executive
Council (FEC) meeting which was presided over by President Buhari at the villa.
Mohammed said the current economic state
of the country was one of the reasons for the hike in fuel price.
The minister likened Nigeria’s situation
to a man who earns N100,000 as salary, and suddenly his employer says he can
only pay N30,000, adding that the man has to make some hard decisions to be
able to survive.
Mohammed said “It is like somebody who
has been earning N100,000 a month and he 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.
“A few months ago, we were earning as
much as $100 for every barrel of crude. In the months of February and March, we
no longer have the resources, the foreign exchange to bring in refined fuel
products. And our economy is shrinking.
“We appreciate the fact that the
decision is going to affect everybody. We appreciate what we are going through,
but Nigerians should also know that the government has the responsibility at
times to take very difficult decisions. So, it is not always about popularity.”
No comments:
Post a Comment