President Buhari
President Muhammadu Buhari comparing the oil price in Nigeria to those of neighbouring nations and oil-producing countries, has argued that “it makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia”.
The President in his Independence Day nationwide broadcast on Thursday noted that while petroleum prices 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. In 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.
The government he said must take tough decisions. “A responsible government must face realities”, he added.
“Fellow Nigerians, to achieve the great country we desire, we need to solidify our strength, increase our commitment and encourage ourselves to do that which is right and proper even when no one is watching”.
He noted that “No government in the past did what we are doing with such scarce resources. We have managed to keep things going in spite of the disproportionate spending on security. Those in the previous Governments from 1999 – 2015 who presided over the near destruction of the country have now the impudence to attempt to criticize our efforts”.
