If you are a Nigerian lamenting the high price of petrol in Nigeria, then Senator Elisha Abbo, a former federal lawmaker, has a message for you.
Apparently to let you know what the future holds for the price of petrol.
Abbo has dropped a striking comparison between gasoline prices in Nigeria and neighboring countries.
According to the Senator, while Nigerians grapple with rising fuel costs, a liter of gasoline in Ghana is about ₦1,600, and in the Benin Republic, it’s around ₦1,800.
Senator Elisha Abbo painted a vivid picture of Nigeria’s fuel situation, comparing it to neighbouring African countries.
He explained that while gasoline in Nigeria is priced between ₦600 and ₦750 per liter, this is only possible because of heavy government subsidies.
Without these subsidies, he warned, fuel prices in Nigeria would skyrocket. But the government of President Bola Tinubu says ‘subsidy is gone’.
Did You Miss? Panic As Fuel Scarcity Linguers Nationwide
During an interview with Arise TV, Senator Abbo emphasised that only Libya and Algeria produce their own fuel in Africa, while other countries, including Nigeria, import theirs.
He pointed out the stark differences in fuel prices across the continent, mentioning that in “Ghana, a liter of gasoline costs about ₦1,600, in Benin Republic its around ₦1,800, and in neighboring Cameroon, its sold for as much as ₦2,000 per liter”.
Outrageous Price Of Gasoline
Senator Elisha Abbo illustrated the disparity in gasoline prices between Nigeria and major global players like India and China.
He noted that in these countries, the goods Nigeria sells cost around ₦1,800 to ₦2,000.
However, back home, gasoline prices are much lower, ranging between ₦600 and ₦750 per liter.
This significant difference, he explained, highlights the substantial subsidies Nigeria provides to keep fuel prices low.
Without these subsidies, he warned the price of petrol in Nigeria could soar to around ₦2,500 per liter.
