PRESIDENT Muhammadu Buhari on Thursday said that it made no sense for Nigeria to sell oil cheaper than Saudi Arabia or other neighbouring countries that produce the product.
President Buhari also said that Nigerians should collectively resolve to continue their journey beyond the sixty as it was better to remain together than being smaller units of nationalities.
The President stated this in his nationwide broadcast to mark the 60 years independence anniversary of the country.
Comparing the petroleum pump prices in Nigeria and other countries including Egypt and Saudi Arabia among others, he said, there was no sense for the country to sell petrol cheaper than other countries.
According to him, “In the circumstances, a responsible government must face realities and take tough decisions.
“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. It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.”
He said Nigeria would become greater if the citizenry increases their commitment and encourage one another to do what is right and proper.
He said, “Fellow Nigerians, to achieve the great country we 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.
“Fellow Nigerians, let us collectively resolve to continue our journey beyond the sixty years on the clear understanding that as a nation we are greater together than being smaller units of nationalities. By the special grace of God, we shall come through any transient challenges.”
“It is my sincere hope that by the end of this anniversary on September 30th 2021, we will all be proud of taking this individual and collective self-assessment for the progress of our great Nation.”