
Join @Naijakit On Telegram For Instant Updates (Click Here)
OVERVIEW OF: It Makes No Sense For Oil To Be Cheaper In Nigeria Than In Saudi Arabia – Buhari
Nigeria’s President Muhammad Buhari on Thursday has defended the recent hike in the prices of petrol in the country, hinging the increment on the need to shore up the “drastically reduced resources”.
“In this regard, sustaining the level of petroleum prices is no longer possible. The government, since coming into office has recognized the economic argument for adjusting the price of petroleum,” Buhari in a national broadcast to mark the 60th anniversary of Nigeria’s independence.
Petrol currently sells for between N157 and N161 in Nigeria. Buhari said these prices are still cheaper compared to the prices of the same product in other oil-producing countries such as Saudi Arabia.
“It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia,” Buhari said, further justifying
The president gave current oil price in Saudi Arabia, one of the biggest oil producers in the world, as N168 per litre.
Buhari also said a comparison of the fuel prices in Nigeria with other African countries will further justify the increment.
He said Chad, which is an oil-producing country, charges N362 per litre, while Niger, also an oil-producing country sells 1 litre at N346.
Buhari also compared the prices with those of Ghana and Egypt, where petrol is sold at N326 and N211 per litre respectively.
The Labour unions in Nigeria had earlier planned a nationwide protest and strike over the recent increase in electricity tariff and petrol price in the country.
The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) suspended the strike after a late-night meeting with a federal government team at the presidential villa in Abuja.
Naijakit creates content to benefit users and artists alike. We do this by showing data in an easy-to-digest format.
We help artists track their progress, promote songs and reach their target audience.
We have permission from the artists to display most of our content, where we do not request permission, Naijakit use content under fair use for purposes such as criticism, comment, news reporting, promotion, and research.
Please do not hesitate to contact us, If Naijakit has infringed on your copyright or the copyright of someone you represent, and you want your media files and lyrics to be removed from Naijakit database.
Naijakit will respond to “any and all take-down requests” that comply with the requirements of the Digital Millennium Copyright Act (DMCA), and other applicable intellectual property laws.
Where we get songs to upload?
Naijakit have an upload form on the site, where users have to be registered
to upload song. Admin look at the song and decide if to approve it or not after some checks.
We also receive songs from artists representatives, artists, bloggers asking us to promote songs on our site.
Naijakit TV
SARS Better Than Ordinary Police – Gov. Sule Laments Scrapping Police Unit
Police Officer tells Black Man to Lick his Own Urine (Video)
Insecurity: Stop Lying To Nigerians, PDP Counsels Lai Mohammed
N75BN For Nigerians: Portal Opens, Schedule Released
NERC Denies 50% Increase in Electricity Tariff
Coronavirus: Wear Mask & Glove Lagos Govt. Order All Commercial Drivers
Petrol: NNPC can no long bear N120Billion monthly Subsidy - MD Kyari warns Nigerians
Insecurity: Gov Ganduje closes tertiary institutions in Kano
Nigerian Government replies US on violation of Religious Freedom
Popular Yoruba Actor Gbenga Ajumoko Reported Dead
Write a Comment