Despite the fact that the pump price of fuel has hit nearly double, Governor Hope Uzodimma of Imo State says President Bola Tinubu has shielded Nigeria from global fuel crisis as a result of the conflict in the Middle East.
Prices of fuel hit roof top globally after the barricade at Strait of Hormuz, a vital 30-mile-wide shipping lane between Iran and Oman.
It connects the Persian Gulf to the Gulf of Oman and the open ocean. As a critical global oil chokepoint, roughly 20% of the world’s total liquid petroleum consumption passes through it daily.
But when members of the City Boy Movement visited him at the Government House, Owerri, this weekend, Uzodimma said Tinubu’s reforms prevented scarcity and domestic fuel price hikes, in spite the Middle East crisis.
He said that in spite the ongoing war in the Middle East, the naira remained stable at N1,240, while other African currencies faced significant volatility.
“Nigeria was almost at a decaying level when the President assumed office in 2023.
“In spite the speculative tension in the Middle East, occasioned by the crisis in Iran, the prices of fuel would have gone up but in the African continent, Nigerian naira remains stable.
“The exchange rate of U.S. Dollar and South Africa has gone up but in Nigeria, our exchange rate remains stable at N1,240 because we no longer fund subsidy,” Uzodimma said.
He hailed the subsidy removal for stabilising the exchange rate and allowing the Dangote Refinery to purchase crude in naira.
He emphasised that the global community now recognised Nigeria’s recovery, calling for a united front to sustain the new development trajectory.
Addressing a delegation of the movement, led by its Patron, Mr Seyi Tinubu, and Minister of Youth Development, Mr Ayodele Olawande, the governor described their visit as “home coming”.
He described the initiative as a “new mentality” designed to prepare young Nigerians for future leadership.
He commended them for supporting and providing charity to the sick and vulnerable in hospitals.
The governor highlighted the South-East region’s improved infrastructure and political peace.
He urged the delegation to act as “Renewed Hope” ambassadors, ensuring that Tinubu’s achievements resonate in every grassroots and urban centers.
Uzodimma, therefore, promised full support to the youth movement.
Earlier, Olawande commended Uzodimma for supporting the movement, the Renewed Hope Initiative and youth programmes in the state.
He sought continued backing for youth initiatives, aligning with the movement’s goals.
The News Agency of Nigeria (NAN) learnt that the movement would, on Saturday, empower 7,000 youths in the South-East as a symbolic gesture of its visit to the region.
(NAN)
