The President Muhammadu Buhari administration has openly admitted to Nigerians that the country is broke. The Federal Government said the recent removal of subsidy and resultant increase in the pump price of petrol was one of its measures to manage the shrinking Nigerian Economy.
The Minister of Information and Culture, Lai Mohammed, spoke to newsmen on Wednesday shortly after the Federal Executive Council (FEC) meeting chaired by President Muhammadu Buhari.
Responding to questions on the new fuel pricing regime which reflected an increase from N86.50 to N145 per litre, the Minister said “it is not about subsidy removal. It is about the fact that Nigeria is broke. Simple!…The economy is shrinking.”
Lai Mohammed lamented that the country lacked sufficient Foreign Exchange to continue the importation of fuel.
The post ICYMI: Nigeria is Broke – Lai Mohammed appeared first on The Whistle.
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