Independence: ‘It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia’ – Buhari

In the Independence Presidential address, President Muhammadu Buhari has compared petroleum prices with that of other countries stating that Nigeria has adjusted it’s prices.

He revealed this on Thursday morning in Aso Villa in his address on Nigeria’s 60th Independence Anniversary disclosing that the neighbouring countries charges more in petroleum.

He said, “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, the 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.”