President Muhammadu Buhari has justified the recent increase in the pump price of petrol, arguing that Nigeria cannot continue to sell fuel at prices lower than other oil-producing nations and neighbouring countries.
Fuel Price Hike: A Necessary Step?
During his Independence Day broadcast marking Nigeria’s 60th anniversary, the President noted that despite being an oil-producing country, Nigeria’s petrol prices remain among the lowest when compared to regional and global peers.
“We sell petrol at ₦161 per litre, while the same product sells for ₦168 in Saudi Arabia, ₦211 in Egypt, ₦362 in Ghana and Chad, and ₦346 in Niger Republic,” Buhari stated.
He questioned the logic behind maintaining such a low price point, stating, “It does not make sense for petrol to be cheaper in Nigeria than in Saudi Arabia.”
A Call for National Responsibility
President Buhari appealed to Nigerians to accept the changes as part of the broader effort to build a stronger and more self-sufficient country.
He urged citizens to rise above sentiments and unite in facing national challenges.
“To achieve the great country we desire,” he said, “we need to solidify our strength, increase our commitment and encourage ourselves to do what is right, even when no one is watching.”
