Nigeria At 60: President Buhari Justifies Fuel Price Hike

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President Muhammadu Buhari has justified the hike in the price of fuel in the country, stating that the fuel regime was a reality any responsible government must face.

The president who made this known in his Independence Day Speech on Thursday said that while petroleum prices are to be adjusted, the government must take tough decisions.

He compared the oil price in Nigeria to those of neighbouring countries, arguing that it makes no sense for oil to be cheaper in Nigeria than it is in other oil-producing nations.

He 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;

“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,” he said.

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“It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia,” President Buhari declared.

President Buhari also called for a sincere process of national healing as the nation marks the 60th anniversary of its independence from Britain.

According to him, the healing was necessary as the nation has consistently focused on “contrived fault-lines” that have been “allowed unnecessarily to fester.”

“We need to begin a sincere process of national healing and this anniversary presents a genuine opportunity to eliminate old and outworn perceptions that are always put to test in the lie they always are,” the President said.

He held that to achieve a desired great country, Nigeria needs to solidify its strength, while citizens must increase their commitment and encourage each other to do that which is right and proper.


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