Petroleum prices to go up-Buhari

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Nigerians are yet to see the last in the increase in pump price of petroleum products, as President Muhammadu Buhari hinted on Thursday that petroleum prices in Nigerian will be adjusted.

Buhari in is broadcast to Nigerians on the 60th Independent anniversary, 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

He compared Nigeria’s pump price of petroleum with other countries around the world and exclaimed that it does not make sense that price of oil is cheaper in Nigeria than in Saudi Arabia.

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Buhari said that In the circumstances, a responsible government must face realities and take tough decisions.

He said: “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, 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.”

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He said that to achieve the great country that Nigerians desire, “we need to solidify our strength, increase our commitment and encourage ourselves to do that which is right and proper even when no one is watching.”

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