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This is it: All over the world, the price of petrol, diesel and kerosene are relatively close. Petrol has the highest price, followed by diesel and kerosene. In short, petrol is the costliest and kerosene is the cheapest.
Let’s just call the $800 million ‘funding from a lending organisation’, and we arrive at a ‘loan grant’, a safe way to make peace.
“We can’t be spending those amounts on petrol subsidies when education, infrastructure and security are suffering. It is simply a waste of money,” he noted.
By May 2023, Chief Bola Tinubu is expected to be sworn in, having been announced as the president-elect by the Independent National Electoral Commission, after a contentious February 25 election.
Al Utsaha, who traveled from Makurdi to Abuja on Saturday, January 28, purchased fuel at three different prices. He bought petrol at N305 per litre at a filling station in Northbank, Makurdi. On getting to Ado-Mararaba in Nasarawa State, he purchased a litre at N320. He then went on to buy it at N194 at the NNPC filling station along Zuba-Giri road on Sunday, January 29.
The scarcity naturally led to most marketers selling petrol above the official pump price of N169 per litre. Petrol costs as much as N330 per litre in many parts of the country.
For weeks (in some places for months), there has been a scarcity of petrol across the country. The scarcity has heralded long queues at filling stations, and many stations are selling at prices that are way higher than the official pump price per litre. In many parts of the country, petrol is sold for as high as N250 per litre as opposed to the official rate of N165.
In the year 2000, the then Nigerian President, Olusegun Obasanjo, attempted to remove fuel subsidies. His administration argued that it cost the government $2 billion to subsidise the price annually.
Nigeria’s minister of police affairs, Muhammad Dingyadi revealed that the government approved over N4 billion in the 2021 budget to fuel police vehicles in all the police commands of the country. This sum is meant to provide fuel for Police vehicles ranging from sedans, pickups, and armoured vehicles used in operations.
