President Bola Tinubu has revealed that a close friend of his, who once owned five Rolls-Royces, is now driving a Honda Accord due to the recent increase in fuel prices in the country.
During a presidential media chat at his residence in Lagos, Tinubu shared the story, highlighting the impact of rising fuel costs on even the wealthy.
He explained that the high fuel prices made it impossible to continue managing a fleet of luxury vehicles.
This remark comes after Tinubu’s decision to end the fuel subsidy regime shortly after assuming office on May 29, 2023.
The move caused fuel prices to skyrocket from under N200 per litre to over N1,100, while the naira’s exchange rate plunged from ₦700 to over ₦1,600 to the US dollar.
In his address, the president urged Nigerians to be more responsible with their finances as they navigate the country’s current economic challenges.
According to Tinubu: “My friend used to have about five Rolls-Royces; the other day I saw him in his Honda; he said that is where you (Tinubu) put me, then I said I didn’t put you there, he said because of fuel price, he could no longer manage a five-limo type of vehicle.”
