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Following the harsh economic realities
Nigeria is currently facing, many Nigerians
have labelled the Federal Government as
being insensitive to the plight of its citizen by
making fuel too expensive for consumption. But really, how expensive is fuel in Nigeria,
compared to other countries? At 145/
Litre, is fuel too expensive in Nigeria? As surprising as it may seem, Nigeria is
ranked 12th as per cheapest price of petrol
in 173 countries even with the new 145
per litre price according to Globalpetrolprices.com

In Nigeria, fuel now costs 145/L and with
the current exchange rate that is fluctuating
between 320-360 to a dollar, it means
we are paying about $0.44/L
[list=1]
[*] In United States, fuel is sold at the pump
price of $0.65/L (214/L).
[*] South Africa - $0.84/L (277)
[*] Russia $0.55/L (181/L)
[*] Canada - $0.91/L (300/L)
[*] Ghana - $0.92 (303/L)
[*] China - $0.93 (306/L)


Some will argue that the countries above are
not petroleum exporting countries (OPEC)
like Nigeria, but what about OPEC member
countries like:

[*] Angola, where PMS is sold at $1/L (about
330),

[*] Iraq - $0.64/L (211),

[*] Venezuela pump price is $0.60/L (198/
L)
with President Nicolas Maduro calling the
approximately 198Lpump price ‘one of
the cheapest in the world’.

[*] Even in the oil rich, United Arab Emirates
(UAE) PMS is sold at $0.45/L which is about
(148/L) which is more expensive than the
price in Nigeria. According to Globalpetrolprices.com, In Hong Kong, the pump price is set at $1.85/L (about
610/L) making the country the most
expensive seller of gasoline in the world.
[/list]

With the facts and figures above, at 145/L
fuel is not expensive, it’s actually one of
the cheapest in the world, but because of the
poor living conditions of millions of
Nigerians, it appears expensive and thus,
many Nigerians struggle to afford it. That is why the government needs to
provide welfare programs, to kill that disease
called corruption, invest in electricity,
education, fix refineries, provide jobs and
reduce poverty in the country. Or what do u think??

CREDIT TO NGtag Blog

Foool y are you using blackmarket rate,is Nigeria a blackmarket nation. Can u compel the value of those currency to naira. We hv actually enter one chance

colosa:
Foool y are you using blackmarket rate,is Nigeria a blackmarket nation. Can u compel the value of those currency to naira. We hv actually enter one chance

You go school so?

y nt use dere own currecy and convert to our currency. and leave doller out of dis

praisecity:
y nt use dere own currecy and convert to our currency. and leave doller out of dis

He has converted them to naira already using N320 to $1as the conversation rate. The prices in brackets are the naira equivalent.