FG was printing money to pay for fuel subsidy – Ribadu
…says national security improving
The National Security Adviser, Nuhu Ribadu, has revealed that the Federal Government was printing money to pay for fuel subsidy before it was stopped by the current administration.
Ribadu said this on Thursday in Uyo at the ongoing All Nigeria Editors Conference.
He said that the government inherited a tough and difficult period and had to make some hard decisions to address the economic and security challenges.
“A lot of work is ahead of us. We inherited tough and difficult period. We are just five months old. We have a lot to do.
“On the subsidy thing, we were printing money to pay for fuel subsidy. We had to stop it as well as forex issue where we had some people with access get special rates while the rest of us had to go to open market to get it,” he said.
He appealed for patience and understanding of Nigerians, saying that there is no better alternative to what the government is currently doing. He also sought the support of the media, saying that the government and the media are in this together.
“We don’t expect everyone to like you. We say things the way it is. There is no better alternatives to what we are currently doing. We seek the support of the media. We are in this together. Things will be better. It won’t be too long. We will be open with Nigerians. Pls come in and join us. Please let do it together,” he said.
Ribadu also gave an update on the security situation in different parts of the country, saying that the government has made significant progress in restoring peace and stability.
He said that the crude oil production in the Niger Delta has increased from 1 million barrels per day to 1.7 million barrels per day, and that there has been no security incident in the region for three weeks, which is the first time since 1993.
“On Niger Delta we met crude production of one million barrel per day. Today we have increased to 1.7 million barrel. This is the first time since 1993 that we had three weeks of no security incidents in Niger Delta.
“Our OPEC quota is 1.8m barrels per day we are hitting 1.7m and by next year we will do over 2m.
He also said that the South East has not witnessed any attack by IPOB and ESN in two months, and that the President is engaging and talking to stakeholders. He added that people from the South East are in senior strategic positions in the Tinubu administration.
He said that people in the North East have been unable to farm, go to market and even send their children to school due to terrorism, but that the situation has improved as there have been no incidents of terrorism in most parts of the region.
“South East we have not had any incidents of attack in two months by IPOB and ESN. The President is engaging and talking to stakeholders. People from South East as in senior strategic positions in the Tinubu administration.
“We know the tragedy of our insecurity. Once it starts it takes time to reverse. Don’t allow insecurity to take root. It destroys everything, way of life, livelihood etc. People in North East have been unable to farm, got to market and even send their children to school in North East. In most part of North East now there had been no incidents of terrorism in North East.
“In North West with problem of Banditry. Many people have been Kidnapped and held hostage for over two years by bandits and Kidnappers. In the last few weeks we have freed over 600 people and returned them to their families. Kidnapping has replaced armed robbery across the country. It will take a while to stop it across the country. Organised Kidnapping we have in the past has come down considerably,” he added.
