A chieftain of the All Progressives Congress (APC) in Cross River State, Soni Abang has absolved President Bola Tinubu of having a hand in the rising price of fuel in Nigeria.
Abang, while speaking at the mega endorsement rally held in Ikom Township Stadium on Saturday, said the increase in fuel pump price can be attributed to the global economic crisis and the ongoing war between Israel, the United States of America and Iran.
According to Abang, the geopolitical tensions rocking the global market and fluctuations in crude oil market prices are largely responsible for the hike in the price of fuel.
An executive director of the South-South Development Commission, Abang said it is unfair for anyone to blame Tinubu for these challenges.
He also stated that the persisting challenges affecting the global market are entirely out of the president’s control.
“Is Tinubu the one who started the crisis in Iran? These are global issues affecting economies around the world. Even at that, fuel prices in Nigeria remain relatively competitive,” Abang said.
He also noted that despite inheriting an already collapsing economy, the administration of Tinubu, since assuming office in May 2023 has done everything possible to keep the country afloat.
“This current administration inherited a fragile economy. But the President has now embarked on reforms aimed at stabilising the fiscal outlook of our country.
“Food prices are coming down daily. The earlier spike was manipulated by opposition elements to create panic, but the situation is improving,” Abang noted.
Also highlighting various infrastructural developments across the country, the APC chieftain urged Nigerians to remain patient with President Tinubu’s government.
He expressed confidence that the reforms of the current administration would bring positive results to the people and the country’s economy in due time.
🚨 BREAKING: Watch the full clip here ➤
