Minister of Information and
Culture, Lai Mohammed, says the removal of oil subsidy is as a result of
Nigeria's poor economic state. According to Mohammed, Nigeria is broke.
Mohammed said this while speaking with State House correspondents after the
Federal Executive Council meeting in Abuja yesterday May 18th.
“The current problem is
not really about subsidy removal. It is about that Nigeria is broke. Pure and
simple! 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. 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.”he said
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