President Bola Tinubu has warned that the cost of living will increase as long as citizens continue to demand everything for free.

Speaking on Friday in Beijing at a meeting with representatives of the Nigerians in Diaspora Organization in China (NIDO China) and the Nigerian community at the China World Hotel, Mr Tinubu said a fuel price hike is inevitable if Nigeria is to develop.

“Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices. But can we help it? Can we develop good roads like you have here? You see electricity being constant in quantity and quality. You see water supply, constant and running, and you see their good schools. And we say we want to hand over a banner without stain to our children?” Mr Tinubu said.

He added, “What is the critical part to get us there if we cannot take hard decisions to pave the way for a country that is blessed and so talented? So many of you are so talented, speaking very fluent Mandarin. It is what you contribute and tell them at home that will reflect in the attitude of our people. The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development.”

Mr Tinubu’s remarks come amidst widespread discontent over recent increases in fuel prices.

On Monday, the Nigerian National Petroleum Corporation (NNPC) raised the price of petrol from N680 to N855 per litre, prompting other stations to follow suit and causing a nationwide surge in transportation costs.

Since Mr Tinubu’s administration ended the fuel subsidy regime on May 29, 2023, fuel prices have steadily risen from N145 to nearly N1,000 per litre.