- Says it makes no sense for oil to be cheaper in Nigeria than Saudi Arabia
President Muhammadu Buhari Thursday justified the fuel price hike by his government arguing that a responsible government must take tough decisions in the interest of the country.
In his broadcast to the nation on the occasion of Nigeria’s 60th independence anniversary, Buhari chided critics of the price hike, noting that the price of fuel was still far cheaper in Nigeria than in neighbouring oil producing countries.
“In these circumstances, a responsible government must face realities and take tough decisions. Petroleum prices in Nigeria are today adjusted, we sell now at N161 per litre. A comparison with our neighbours will illustrate the point. A) Chad, which is an oil producing country, is N362 per litre. B) Niger, which is also an oil producing country, sells fuel litre at N346. C) Ghana, another oil producing country, petroleum pump price is N326 per litre. Egypt charges N211 per litre, Saudi Arabia charges N168 per litre.”
Buhari said, ‘Its makes no sense for oil to be in Nigeria than in Saudi Arabia.”