Nigeria is broke, hence the need for fuel price hike – FG declares

Written by on May 19, 2016

downloadThe Federal Government has raised the alarm that it increased the fuel price because the nation is broke.  The Minister of Information and Culture, Lai Mohammed, said this on Wednesday while briefing State House Correspondents shortly after the Federal Executive Council (FEC) meeting. He said the fuel price hike is not really about subsidy removal, but that Nigeria is broke and the economy is shrinking. He also restated the government’s complaint that there was no foreign exchange to import fuel.

 

Also speaking, the Minister of Labour, Ngige denied allegations that the government is encouraging labour factionalism by negotiating with both Ayuba Wabba and Joe Ajaero led factions at separate meetings to forestall the planned strike. Ngige said the door is still open for talks with the federal government.


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