ABUJA—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.”
Also speaking, Dr. Ngige denied
allegations that government was
encouraging labour factionalisation by
negotiating with both Ayuba Wabba and
Joe Ajaero factions at separate meetings
to forestall the strike.
Ngige said the door is still open for talks
with the Federal Government, noting that
“we are ready to discuss with anybody,
even civil society groups. As a government,
we will not encourage factionalisation.”
Similarly, Malami faulted the criticisms
arising from the Federal Government’s
legal approach for injunction against the
industrial action, saying it was necessary,
especially as NLC did not give the
government the constitutional 15 days
notice.
On the waiver granted Dangote Group for
the construction of a section of Lokoja-
Obajana-Kabba-Ilorin Road, specifically
the section between Obajana-Kabba Road,
Mr. Fashola said the road was important
for the infrastructure development of the
country.
He said: “Companies are ordinarily
supposed to pay income tax. There are
existing policies in our laws which enable
government to consider and give tax
incentives.
“Council considered and approved the
proposal for Dangote Construction
Company to build that section of the road
because the tonnage of cement being
produced from the factory has increased
and the traffic in that area has increased;
there has been unfortunate accidents
also.”

http://www.vanguardngr.com/2016/05/increased-fuel-price-nigerias-broke-lai-mohammed/

Seriously trying to comprehend this explanation.
i guess it's working

20 litres of fuel in Your car & 10 litres for Your Gen at 145 Naira for 30 days is N130,500. Nepa bill, food, pampas, school fees, house rent and other miscellaneous excluded. Minimum wage N18,000. The corruption that would soon invade this country is still doing press up in Afghanistan!!!

broke??

last time I checked y'all thieving APCrackheads claimed almost $20bn was recovered from corrupt politicians...

Lie Mohammed, you're a beetch ass brainless modafvcka all that comes out of your shiiiiit-smoked mouth are lies. but then again, I can't really blame you, you're their puppet.

This lai Mohammed ehen...Anyway I reserve my comment

It is well oo...,

Nigeria is broke but our ministers requested for 20 million naira as house rent for a year.

Nigeria is broke but all our senators spent billions of naira to buy cars!

http://www.thisdaylive.com/index.php/2016/05/19/house-goes-ahead-with-360-official-cars-purchase-plan/

Nigeria is broke but our politicians are not ready and willing to slash their salaries and bogus allowance by 70% so as to get money and donate for Nigeria!

Nigeria is broke but only the poor and average masses the FG wanted to get money from their salaries or money to solve the problem.

I am not seeing an end to fuel price increase in Nigeria or even the market driven pricing mechanism playing out.

This govt with its discordant tunes is confusing all minds.

While Kachikwu says oil subsidy had been removed, the VP says no, it is as a result of exchange rate. So if we settle for the VP's position, it means we will have another round of price hike sooner or later.

DULLARD BUHARI AND HIS FOOLISHH APC OLD MEN ARE THIEF, CRIMINALS & CORRUPT YOU WANT TO MAKE MONEY FROM THE POOR SUFFERINGS NIGERIANS TO SATISFY YOUR USELESSS SELF, THUNDERR GO FIRE ALL OF UNA THIEFS

Hypocrite!!!

I'm in Nigeria but I will keep saying God bless American like the lords prayer cos they care about their citizen worldwide but Nigeria don't care about her citizens within. Hypocrites everywhere. Suffering and smiling everywhere just for the sake of a party.

EroticAngelina:
broke??

last time I checked y'all thieving APCrackheads claimed almost $20bn was recovered from corrupt politicians...

Lie Mohammed, you're a beetch ass brainless modafvcka all that comes out of your shiiiiit-smoked mouth are lies. but then again, I can't really blame you, you're their puppet.

hmmm.. Take a chill my dear! Its nt worth it! Disguisd tyranny iz the name! Let's look forward 2 d future.. U determine it nt those slugs! Channel dis agression to d ryt place.. Howdy? Bn a while? Hows yo end?

Jesus