According to President Bola Ahmed Tinubu, Nigerians buy the cheapest fuel in West Africa. Aguri Ngelale, the President’s Special Adviser, made the announcement on Tuesday.
The president stated that the price of gasoline will not be raised. The presidency was reacting to reports that petrol pump prices would be raised due to an increase in the landing cost of the commodity induced by the Naira’s depreciation versus the US dollar.
According to Tinubu, Nigeria is the only country that sells fuel for less than N700 per litre.
“Today’s pump price in Senegal is N1,273 equivalent per litre, Guinea is N1,075 equivalent per litre, Côte d’Ivoire is N1,048 equivalent per litre in their currency, Mali is N1,113 per litre, Central African Republic is N1,414 per litre, and Nigeria is currently averaging between N568 and N630 per litre.”
“We are currently by far the cheapest, most affordable purchasing state in the West African sub-region.” “No country has a price below N700 per litre,” he remarked.
According to the DAILY POST, the Nigerian National Petroleum Corporation Limited has stated that there are no plans to raise petrol pump prices.
Tinubu Speaks on Temporary Subsidy: “No more increase in pump price”
The Nigeria Labour Congress has warned to strike without warning if petrol pump prices are raised.
Fuel pump prices were revised twice in two months, and are now at N617 a litre after subsidies were removed.