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Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed - Politics - Nairaland

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Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by ogododo: 6:58pm On Sep 07
The Federal Government on Monday said despite the recent increase in the price of Premium Motor Spirit to N162 per litre, the price of the commodity in Nigeria remained among the cheapest in Africa.

The Minister of Information and Culture, Lai Mohammed, said this at a press conference in Abuja.

Mohammed was joined at the briefing by the Minister of Power, Sale Mamman; and the Minister of State for Petroleum Resources, Timipre Sylva.

The minister said, “In spite of the recent increase in the price of fuel to N162 per litre, petrol prices in Nigeria remain the lowest in the West/Central African sub-regions.

“Below is a comparative analysis of petrol prices in the sub-regions (naira equivalent per litre): Nigeria -N162 per litre; Ghana -N332 per litre; Benin -N359 per litre; Togo – N300 per litre; Niger – N346 per litre; Chad -N366 per litre; Cameroon -N449 per litre; Burkina Faso -N433 per litre; Mali -N476 per litre; Liberia – N257 per litre; Sierra Leone -N281 per litre; Guinea -N363 per litre; and Senegal – N549 per litre.

“Outside the sub-region, petrol sells for N211 per litre in Egypt and N168 per litre in Saudi Arabia.

“You can now see that even with the removal of subsidy, fuel price in Nigeria remains among the cheapest in Africa.”

Mohammed added that with the 60 per cent reduction in the nation’s revenue, the present regime can no longer afford to subside petrol prices.

He noted that fuel subsidy alone gulped N10.413trn between 2006 and 2019.

Continuing, he said, “Government can no longer afford to subsidise petrol prices because of its many negative consequences. These include a return to the costly subsidy regime.

“With 60% less revenues today, we cannot afford the cost. The second danger is the potential return of fuel queues – which has, thankfully, become a thing of the past under this administration.

“The days in which Nigerians queue for hours and days just to buy petrol, often at very high prices, are gone for good. Of course, there is also no provision for fuel subsidy in the revised 2020 budget, because we just cannot afford it.

“The cost of fuel subsidy is too high and unsustainable. From 2006 to 2019, fuel subsidy gulped 10.413trn. That is an average of N743.8bn per annum.

“According to figures provided by the NNPC, the breakdown of the 14-year subsidy is as follows: in 2006, subsidy was N257bn; in 2007, it was N272bn; 2008 -N631bn; 2009 -N469bn; 2010 -N667bn; 2011 -N2.105trn; 2012 -N1.355tn; 2013 -N1.316tn; 2014 -N1.217tn; 2015 -N654bn; 2016 -figure not available; 2017 -N144.3bn; 2018 -N730.86bn; and 2019 -N595bn.”

https://punchng.com/petrol-price-in-nigeria-one-of-the-cheapest-in-africa-says-fg/

4 Likes 2 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by NwaNimo1(m): 6:59pm On Sep 07
Liar...Mohammed

shut your stinking mouth!


347 Likes 13 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Madibah(m): 6:59pm On Sep 07
Most of this countries has stable electricity..
And most of them doesn't have crude oil in their country
So what is lai Mohammed saying? undecided

I think he needs this

558 Likes 41 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Promxy94(m): 7:00pm On Sep 07
We know....

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Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by helinues: 7:03pm On Sep 07
No dispute about that but considering the volume of petrol we have , reserved and untapped.

Apc are jokes

159 Likes 7 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Sirsuky(m): 7:08pm On Sep 07
What is the value of their currency to Nigeria currency
So they should not lie to us.

193 Likes 7 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by November1857(m): 7:09pm On Sep 07
Did you say that during GEJ era ! Hypocrised...

187 Likes 8 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Jorby(m): 7:09pm On Sep 07
Confused sets of people.

26 Likes 3 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by ogododo: 7:10pm On Sep 07
Una mehn, our leaders dem hate us no be small.
Lalasticlala

78 Likes 2 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by BrighterMe(f): 7:12pm On Sep 07
Let's clap hands for Buhari. He's done creditably well.

41 Likes 3 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by NaijaOlosho(f): 7:20pm On Sep 07
G
Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by EdmundChidera(m): 7:20pm On Sep 07
Do other African countries have crude oil like we do too

I don't even understand this government again and it pains me they're just starting

This lai calm down o

48 Likes 4 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by MikeMicheal(m): 7:21pm On Sep 07
TRASH! How many of those countries are blessed with sufficient crude oil like Nigeria?

113 Likes 3 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Carthman(m): 7:21pm On Sep 07
Our Lai doesn’t disappoint with his lies grin grin

36 Likes 1 Share

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by rawpadgin(m): 7:21pm On Sep 07
Mr big fool!!!!!!!

Did u put every other aspects into consideration?

Like stable power supply, the barrels of crude those countries produce etc

59 Likes 1 Share

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Romanoff(f): 7:21pm On Sep 07
Why Una no leave as as Una meet am?

125 Likes 9 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Nobody: 7:21pm On Sep 07

23 Likes

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Imustreturn(m): 7:21pm On Sep 07
Do we have a stable naira value and electricity?

Foolish man

87 Likes 2 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Oladimejjy(m): 7:22pm On Sep 07
Trash!!!

12 Likes

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Zyxzzzz: 7:22pm On Sep 07
Mad man

60 Likes 3 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Bannylove13: 7:22pm On Sep 07
Nigerians

Apc government is pompous about killing us all..

33 Likes 1 Share

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Debroslink: 7:22pm On Sep 07
A
Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Triangles1(m): 7:22pm On Sep 07
The brain need hydraulic oil.

21 Likes

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by surgical: 7:22pm On Sep 07
This is the reason this party can never solve Nigeria problems,even if you give them 100years it is populated by daft people both leaders and followers,look at the flawed argument by a supposed spokes person of the government
Nigeria has comparative advantage in oil over most of the countries
In dollar term it is cheaper in some of these countries because their currency is stronger
So this government has not done us any favours,they have priced the products appropriately according to the current international oil prices and at the current devalued exchange rate while adding some margin
The luck they have is that Nigerians are not interested in the source of their problem before looking for solutions, otherwise they would have started from this corrupt and inept government

122 Likes 12 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Sunnycliff(m): 7:22pm On Sep 07
Did you say this in the ojota protest? So subsidy was paid in 2016, till 2019? Thought you guys aid that subsidy was a scam?

35 Likes 1 Share

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by bolaayenimo: 7:22pm On Sep 07
Lai again
Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by joelbooks: 7:22pm On Sep 07
Oga LM
Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by bikefab(m): 7:22pm On Sep 07
This man have come again...

7 Likes

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by MasterDreamz: 7:22pm On Sep 07
Even if it's the cheapest; can't it stay that way, must every price become inflated?

Negative change!

13 Likes 1 Share

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by lagusboyyy(m): 7:22pm On Sep 07
They travel to sane, civilized and developed Nations for tourism, they would never try to imitate or do what they see there here.

But when its comes to hardship and backwardness, they try to compare here with there.

At last, nobody is escaping Alive.

56 Likes 4 Shares

Re: Petrol Price In Nigeria Is One Of The Cheapest In Africa - Lai Mohammed by Sunkyapogee(m): 7:23pm On Sep 07
We go still survive.

4 Likes

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