“N900 per Litre”: FG Releases Chart Showing Nigerians Enjoy Cheap Petrol Compare to 14 African Countries

“N900 per Litre”: FG Releases Chart Showing Nigerians Enjoy Cheap Petrol Compare to 14 African Countries

  • President Bola Tinubu has defended the petrol price increase and released charts comparing Nigeria's prices with those of West African countries
  • This follows reports that petrol prices are set to increase to N720 amid naira depreciation and forex challenge
  • Currently, one litre of petrol is sold across the country for around N568 in the southern states and for as high as N630 in the northern states

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ click on “Recommended for you” and enjoy!

President Bola Tinubu has revealed that Nigerians enjoy the lowest petrol prices among West African countries.

The statement comes amid growing concerns among Nigerians as marketers suggest an increase in the coming days citing various fundamentals.

Fuel prices in Nigeria
President Tinubu believes that Nigerians enjoy the cheapest petrol price on the continent. Photo credit: Presidency
Source: Facebook

Tinubu, speaking through his Special Adviser on Media and Publicity, Ajuri Ngelale, however, allayed the fears of Nigerians about a possible increase in petrol price to N720 per litre, ThisDay reports.

Read also

Minimum Wage: Good news for Nigerians as NASS gives fresh update on survival package

Petrol price increase

Ngelale, who spoke with journalists at State House, Abuja, on Tuesday, April 15, 2023, noted that the president said the current petrol pricing will be maintained. There is no need to reintroduce fuel subsidy.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

He said:

“This morning, I have the privilege of sitting down with His Excellency, President Bola Tinubu, as we discussed the current unfolding situation in the country as it relates to fuel supply and demand.
Mr. President wishes to assure Nigerians following the announcement by the NNPC Limited just yesterday that there will be no increase in the pump price of premium motor spirit anywhere in the country.

To further drive home his points, Ngelale presented a chart stressing that petrol prices are still lower in Nigeria than other West African countries.

Read also

President Tinubu reportedly considering reintroducing petrol subsidy, sources give details

He added:

“Within the visuals, you'll discover the current pricing of refined premium motor spirit at fuel stations in the neighbouring West African nations. I'll mention a few examples, as I'm aware that you'll be presenting these visuals to your audience – graphics that have been graciously approved for public release by the president today.

Petrol price by country

  • Senegal: N1,273 per litre
  • Guinea: N1,075 per litre
  • Côte d'Ivoire: N1,048 per litre
  • Mali: N1,113 per litre
  • Ghana N900 per litre
  • Central African Republic: N1,414 per litre
  • Nigeria: Presently ranging between N568 and N630 per litre

Ngelale concluded:

“We are presently the cheapest, most affordable purchasing state in the West African sub-region by some distance. There is no country that is below N700 per litre."

Good, bad news for Nigeria as global crude oil prices rise to highest level in 2023

Meanwhile, in another report, Legit.ng revealed Nigerians would have to prepare for another price increase in the coming days if the situation of the naira doesn't improve and global crude prices continue to rise.

Read also

“We rebuke and bind”: Leaked chat shows naira exchanges at N1,000 per dollar, CBN ready to fight back

However, the message from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to Nigerians is not to panic.

The President of IPMAN spoke to Legit.ng, detailing what Nigerians should expect, as many fear that a litre of petrol could hit N1000.

Source: Legit.ng

Online view pixel