Why Nigeria can't sell oil cheaper than Saudi Arabia —Buhari

President Muhammadu Buhari says it makes no sense for Nigeria to sell petroleum products at prices lower than those sold in neighboring countries.

He made this known in his broadcast to the nation on the occasion of Nigeria’s 60th independence anniversary on Thursday.

Buhari said, “Petroleum prices in Nigeria are to be adjusted. We sell now at N161 per litre.

“Chad which is an oil-producing country charges N362 per litre. Niger also an oil-producing country sells oil at N342 per litre. Ghana, an oil-producing country, petroleum pump price is N326 per litre. 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.”

Speaking further, the Nigerian leader noted that he will continue to strive to meet the target set by Nigeria’s founders to be the biggest black nation in the world.

President Buhari added that he was committed to building a country where all regions in the country and ethnic groups will respect and love each other.

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