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Nigeria’s Fuel Pump Price Cannot Be Cheaper, It Makes no Sense – President Buhari

Nigeria’s Fuel Pump Price Cannot Be Cheaper, It Make no Sense – President Buhari

The federal government is not ready to have a rethink on the recent increase in the pump price of Premium Motor Spirit, PMS popularly known as petrol, if President Mohammodu Buhari’s independence day anniversary speech is anything to go by.

The president stated it emphatically in his speech that the government is not ready to back down on the current N161 per litre of fuel.

Comparing the PMS price in Nigeria to other neighboring countries, President Buhari said it makes no sense for Nigeria’s fuel to be cheaper

“In the circumstances, a responsible government must face realities and take tough decisions”.

“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. 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.

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”.

In defence of his government, the president said “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, said Buhari”.

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