President Muhammadu Buhari on Thursday said it makes no sense for petrol to be cheaper in Nigeria than in Saudi Arabia.
The president stated this in his Independence Day broadcast on national television, to commemorate Nigeria at 60.
In the address monitored by Igbere TV, Buhari insisted that his administration is doing the best with scarce resources.
His words: “Petroleum prices in Nigeria are to be 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 charges N362 per litre
B. Niger, also an oil producing country sells 1 litre at N346.
C. Ghana, another oil producing country, petroleum pump price is N326 per litre.
“Further afield, Egypt charges N211 per litre. Saudi Arabia charges N168 per litre. It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.”
Igbere TV reports that President Buhari is expected at the Eagle Square, Abuja today for the ceremonial Independence day parade.
