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President Buhari: it was not logical that petrol is cheaper in Nigeria than in Saudi Arabia

The President Muhammadu Buhari, on Thursday gave reasons for the recent increase in the price of petrol in the country, saying it was not logical that this product is cheaper in Nigeria than in Saudi Arabia.

President Buhari, who made remarks during his national broadcast to commemorate the 60th anniversary of the nation’s independence, gave indications of further increases in the price of gasoline and accused his predecessors between 1999 and 2015 of the near destruction of the country.

But the governors of the opposition People’s Democratic Party and PDP responded that Nigeria was not only regressing, but also becoming more divided under Buhari.

The President, in his speech, defended his stance as to the recent increase in the price of fuel. He said, “A responsible government must face realities and make tough choices.
“The price of oil in Nigeria must be adjusted. We are now selling N161 per liter. A comparison with our neighbors will illustrate this point.”

He further added,”Chad, which is an oil-producing country, is charging N362 per liter. Niger, which is also an oil-producing country, sells N346 per liter. In Ghana, another oil-producing country, the price of the oil pump is N326 per liter. Further on, Egypt charges N211 per liter. Saudi Arabia charges 168 N per liter. It doesn’t make sense that oil is cheaper in Nigeria than in Saudi Arabia.”

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