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The formal increment in the pump price of patrol is seen by some Nigerians as a 60th independence anniversary gift from the president who doubles as the country’s Minister of Petroleum Resources, who is legally empowered to increase prices of patroleum products.
While justifying the decision increase the price of fuel amid outcry by citizens, the President blasted previous governments from 1999 to 2015 for speaking ill of his administration when theirs did not fare much better.
He noted that his administration, despite scarce resources has done more than other governments in the past.
“Chad which is an oil producing country sells 1 litre at N362.
“Niger, also an oil producing country charges N346 per litre.
“Further afield, Egypt charges N211 per litre, Saudi Arabia charges N168 per litre”, he added in the independence anniversary speech, adding that it makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.