• February 11, 2025

As Nigeria marks 60 years of political independence from Great Britain today, President Muhammadu Buhari says he has done more for the country with optima use of scarce resources than his predecessors since 1999, who he accused of almost destroying the nation.
He was referring to the administrations of Olusegun Obasanjo (1999-2007), Umaru Musa Yar’Adua (2007-2010) and Goodluck Jonathan 2010-2015).
In a dawn broadcast to the nation, Buhari therefore, wondered how these set of rulers still had the impudence to criticize his administration.
Also explaining why petrol price pump has to be increased due to fall in revenue, the President cited that costs of petrol in some other oil-producing countries, saying that the subsidised cost in Nigeria can not be sustainable any longer.

He stressed the need for tough decisions as the country must face realities and this he was ready to do.
According to him: “No government in the past did what we are doing with such scarce resources. We have managed to keep things going in spite of the disproportionate spending on security. 
“Those in the previous Governments from 1999–2015 who presided over the near destruction of the country have now the impudence to attempt to criticize our efforts.
“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, 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.”

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