Welcome to the reality: Nigeria is broke


Minister of Information, Lai Mohammed last week said that Nigeria is broke. He spoke to State House correspondents at the end of the Federal Executive Council (FEC) meeting in Abuja. He said the Federal Government took a painful decision by increasing the pump price of petrol from N86.50 to N145 per litre. According to him, the current problem is not about subsidy removal but a result of dwindling income of the government. He said: “The current problem is not really about subsidy removal. It is that Nigeria is broke. Pure and simple!

“It is like somebody who has been earning N100,000 a month and he 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.

“A few months ago, we were earning as much as $100 for every barrel of crude. In the months of February and March, we were short of…so, we no longer have the resources, the foreign exchange to bring in refined fuel products. And our economy is shrinking. We appreciate the fact that the decision is going to affect everybody.

“We appreciate what we are going through, but Nigerians should also know that the government has the responsibility at times to take very difficult decisions. So, it is not always about popularity.”

Lai Mohammed was only stating the obvious. This fundamental truth was not told to Nigerians from the very beginning. This is what Lai Mohammed and his principals should have told Nigerians before the hike in the pump price of petrol. Nigeria is indeed on financial life support machine if you like. This government should have told the nation the whole truth. Nigeria is broke, please understand and bear with the government. The average Nigerian would have listened.

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http://www.blebleblog.com/2016/05/welcome-to-reality-nigeria-is-broke.html?m=0

We knw

Yeah everything is broke.infact all our politicians are broke in the brain(Lack of senses). Mtchew