President Muhammadu Buhari has announced a new pump price for petrol at N161.
Lambasting previous governments from 1999 to 2015 for criticising his administration, he said they presided over a country that was near-death.
He announced that other oil-producing countries sold petrol at a higher pump price and his government is doing what it can with scarce resources.
“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, 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,” he said.
Buhari intoned that for the country to grow and achieve great things, citizens need to solidify their strength, increase their commitment and encourage themselves to do what is right.
