As Nigerians grapple with the ripple effects of petrol subsidy removal, President Bola Tinubu says the current fuel prices across Africa showed that Nigeria still sold fuel at the lowest price.
“We are presently the cheapest, most affordable purchasing state in the West African sub-region by some distance. There is no country that is below N700 per litre,” presidential spokesman Ajuri Ngelale said, quoting the president on Tuesday.
“Senegal at the pump price today of N1,273 equivalent per litre, Guinea at N1,075 equivalent per litre, Côte d’ Ivore at N1,048 equivalent per litre in their currency, Mali at N1,113 per litre, Central African Republic at N1,414 per litre, Nigeria is presently averaging between N568 and N630 per litre,” he stated.
The president stated the subsidy removal resulted in a decrease in the consumption rate.
“At the inception of our deregulation policy as of June 1, as Mr President took office, we have seen PMS consumption in the country drop…