Buhari justifies fuel price hike, says it makes no sense for oil to be cheaper in Nigeria than Saudi Arabia
President Muhammadu Buhari has defended the current price of fuel in the country, stating that a responsible government must face realities.
In his Independence Day Speech, President Buhari stated that while petroleum prices are to be adjusted, the government must take tough decisions.
The president compared the oil price in Nigeria to those of neighbouring nations and oil-producing countries, arguing that “it makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia”.
“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.”
Speaking further, he said Nigeria would become greater if the citizenry increases their commitment and encourage one another to do what is right and proper.