Tinubu Discusses Fuel Price Hike, Says Tough Decisions Are Essential for Economic Growth…..For More READ THE FULL ARTICLE HERE ▶▶...CLICK HERE TO CONTINUE READING.>>
President Bola Tinubu recently addressed the increase in the price of petrol, explaining that the rise is due to difficult but necessary decisions aimed at boosting the economy.
Thank you for reading this post, don't forget to subscribe!Speaking to Nigerians in China, Tinubu explained that these reforms are part of his administration’s efforts to build a stronger economic future for Nigeria. He acknowledged the concerns about the petrol price but stressed that these tough choices are important for the nation’s progress.
He stated, “Nigeria is undergoing reforms, and we are taking bold actions, like the recent fuel price changes.” According to the President, avoiding hard decisions would slow down development, adding, “The more we expect free things, the higher the real cost of development.”
Earlier this week, the Nigerian National Petroleum Company Limited (NNPCL) raised the price of petrol to N855 per liter, resulting in long lines at fuel stations. Many Nigerians and various groups have criticized this price hike and urged the government to reconsider, especially given the current fuel shortages and increasing inflation.
Source: 9jalead
8 Million Small Businesses Shut Down in Nigeria Due to Economic Challenges, Says ASBON
Mr. Femi Egbesola, the National President of the Association of Small Business Owners of Nigeria (ASBON), has expressed deep concern over the effects of government policies on small businesses during the administrations of both former President Muhammadu Buhari and current President Bola Tinubu.
In an interview with SaharaReporters, Egbesola revealed that around 20% of small businesses in Nigeria have been forced to close between January 2023 and June 2024 due to harsh economic policies. This amounts to roughly 8 million businesses shutting down.
He also shared the distressing news that some business owners have lost their lives due to the stress of business closures. Many couldn’t pay back their loans and succumbed to the pressure, while others are currently hospitalized.
Egbesola called on the government to declare a state of emergency for the economy, noting that small businesses are the largest employers in the country, accounting for 86% of Nigeria’s workforce. He warned that the failure of small businesses could have disastrous consequences for the economy.…..For More READ THE FULL ARTICLE HERE ▶▶
Source: 9jalead Official
