Nigeria’s president, Muhammadu Buhari has accused those clamouring for a reduction in the price of premium motor spirit (PMS) popularly referred to as petrol, in Nigeria, as being ignorant. The president opined that fuel price in the country is fair when compared to other oil producing countries.
The president made this remark on Thursday in a speech to mark the country’s 60th independence anniversary.
Buhari’s government announced in March that it had removed fuel subsidy, consequently pushing up the price of petrol from N148 to over N160.
This decision came to millions of Nigerians as insensitive and callous in view of the COVID-19 pandemic, high level inflation and sky-high unemployment rate.
In his speech this speech this morning, the Nigerian president compared the price of fuel in Nigeria to that of other countries and claimed satisfaction with what obtains in his country.
Buhari stated that it makes no sense for fuel to be cheaper in Nigeria than in Saudi Arabia which sells at N168 per litre.
“Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre.” The president said. He went on to draw some parallels with some African countries.
“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.”
Many commentators have accused Buhari who asked in 2014 “who is subsidising who” when asked to comment about fuel subsidy of hypocrisy and insincerity.
