Select Menu

DANGOTE GROUP

Slider

Market Update

Market Update

Politics

Society

Business/Economy

News Headlines

Entertainment

COLUMNISTS

Gainers

Market Gainers

Gainers

Losers

Market Losers

Losers

» » WE INCREASED FUEL PRICES BECAUSE NIGERIA IS BROKE..LAI MOHAMMED
«
Next
Newer Post
»
Previous
Older Post


The Federal Government has said it increased the price of petrol to raise money to run the system, since the country was broke. 

Government said Nigeria’s foreign earnings had drastically reduced in recent times and that the only way out of its present financial quagmire was to look inwards to generate more money. 

Information Minister, Mr. Lai Mohammed, stated these while briefing newsmen at the end of the Federal Executive Council meeting, chaired by President Muhammadu Buhari, yesterday.

Also at the briefing were Attorney General of the Federation and Minister of Justice, Abubakar Malami; Minister of Power, Works and Housing, Mr. Babatunde Fashola, and Labour Minister, Dr. Chris Ngige. 

Mr. Lai Mohammed 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.”

About CKN NIGERIA

Multiple award-winning CKN Nigeria is your one stop shop for Nigeria News. Breaking News, politics, Society, Entertainment, Crime, International News etc
«
Next
Newer Post
»
Previous
Older Post

No comments

Leave a Reply