President Muhammadu Buhari has announced a new pump price for petrol even as the country marks it’s Independence Day.
The president noted that nations such as Ghana, Niger, Chad Saudi Arabia and other oil-producing countries sell petrol on higher prices than Nigeria.
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Stating that in the circumstances, a responsible government must face realities and take tough decisions, Buhari announced a new pump price of ₦161 per litre for petrol.
“Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre. A comparison with our neighbours will illustrate the point;
“Chad which is an oil producing country charges N362 per litre
“Niger, also an oil producing country sells 1 litre at N346.
“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,” he said.
President Buhari maintained that for the country to grow and achieve great things, Nigerians need to solidify their strength, increase their commitment and encourage themselves to do that which is right.
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