President Buhari Says Nigeria’s Focus has been on Contrived Fault Lines; adding, it makes no Sense for Oil to be Cheaper in Nigeria than Saudi Arabia

President Muhammadu Buhari today addressed the nation on the occasion of the country’s 60th independence anniversary on October 1, 2020.

In his speech to mark the Independence Day, Buhari called for a sincere process of national healing as the nation marks the 60th anniversary of its independence from Britain.

The healing, the President said, is necessary as the nation has consistently focused on “contrived fault-lines” that have been “allowed unnecessarily to fester.”

“We need to begin a sincere process of national healing and this anniversary presents a genuine opportunity to eliminate old and outworn perceptions that are always put to test in the lie they always are,” the President said.

He argued that to achieve a desired great country, the nation needs to solidify its strength, adding that the citizens must increase their commitment and encourage each other to do that which is right and proper even when no one is watching.

The President equally seized the moment to defend the current price of fuel in the country given the multiple criticisms the twin increase of fuel and electricity tariff has attracted from Nigerians.

He stated that while petroleum prices are to be adjusted, the government must take tough decisions.

The president compared the oil price in Nigeria to those of neighbouring countries and in specifics said, “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, the petroleum pump price is N326 per litre.”

And dwelling further to buttress his point, he stated that “ Egypt charges N211 per litre. Saudi Arabia charges N168 per litre arguing in turn that It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia”.

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