The presidency yesterday shed more light on the removal of fuel subsidy, which has triggered a continuous increase in the price of the commodity in tandem with the value of crude oil in the international market.
According to it, but for a myriad of economic challenges caused by the COVID-19 pandemic, President Muhammadu Buhari would not have allowed the rise in the pump price of petrol so as to protect the vulnerable.
It stated that history will be kind to the president for summoning the courage to take such a hard decision that will save Nigeria from economic ruination.
The Buhari administration has come under attack since last week when the pump price of petrol went up again, rising from N148 per litre to about N162.
The price hike was induced by the jacking up of ex-depot price of petrol from N138 to N151.
Since the current hike of fuel price was done last week, condemnations had trailed the decision of the Buhari-led federal government from various segments of the society which described the president and his government as insensitive, particularly coming at the time that most Nigerians are facing economic hardship.
Reacting to the criticisms yesterday, the presidency in a statement, said Buhari as a leader had to summon the courage to take difficult and unpopular decisions this time because the country is confronted with economic challenges caused by COVID-19 pandemic.
This is the second time in one week the Buhari administration is speaking on the latest price hike that has triggered a nationwide outrage with threats of a strike by labour unions.
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