The Information Minister, Mr. Lai Mohammed, has said the Federal Government increased the price of petrol to raise money to run the economy since the country was broke. Mohammed stated this while briefing newsmen at the end of the Federal Executive Council meeting, chaired by President Muhammadu Buhari, yesterday. According to Mohammed: “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.”
‘FG increased petrol price because Nigeria is broke’ – Information Minister, Lai Mohammed
