President Bola Tinubu says the hike in petrol price forced his friend to abandon his five Rolls-Royce cars for a Honda Accord. 

The president spoke on Monday in his first media chat since becoming president on May 29, 2023.

Tinubu announced the removal of petrol subsidy during his inaugural speech — a move that has resulted in a hike in the price of the product from about N200 to over N900 across the country.

Speaking on the situation, Tinubu advised Nigerians to “learn to manage”, adding that prudence is “not negative”.

“People are learning management. A friend used to brag to me that he has five Rolls Royce. The other day I saw him in his Honda Accord. He said that’s where you put me. I told him ‘I did not put you there’,” the president said.

“But he said it was because of fuel prices that he could no longer maintain five limousine-type vehicles. It is not negative to learn to manage. Switch off the light to control your electricity bill. Let us learn to manage.”

Tinubu appointed 48 ministers — the highest since Nigeria returned to civilian rule in 1999.

 

Despite criticisms, the president said he will not be downsizing his cabinet.