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Lai Mohammed ‘We increased fuel price because we need money,’ Minister says

Mohammed made the comment on Wednesday, May 18, 2016, while speaking to journalists at the end of the Federal Executive Council (FEC) meeting in Abuja.

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Lai Mohammed- Minister of Information and Culture play

Lai Mohammed- Minister of Information and Culture

(Punch)

Minister of Information, Lai Mohammed has said that the Federal Government increased the price of fuel in order to raise funds because it’s broke.

Mohammed made the comment on Wednesday, May 18, 2016, while speaking to journalists at the end of the Federal Executive Council (FEC) meeting in Abuja.

“The current problem is not really about subsidy removal. It is about the fact that Nigeria is broke. Pure and simple,” the minister said according to Vanguard.

“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,” he added.

Vice President, Yemi Osinbajo had said earlier that increasing the price of fuel was the only option the government had.

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