Nigeria’s electricity, fuel prices the lowest in Central, West Africa – Buhari govt
www.sparkyflux.com President Muhammadu Buhari led government says the price of electricity and fuel in Nigeria are the lowest in West Africa. Minister of Information, Lai Mohammed, said this in a statement on Monday. He noted that with the price of crude inching up, the price of petrol locally was also bound to increase, hence the latest price of N162 per litre. “If, perchance, the price of crude drops again, the price of petrol will also drop, and the benefits will also be passed on to the consumers. The angry reactions that have greeted the latest prices of Premium Motor Spirit (PMS) is, therefore, unnecessary and totally mischievous. “The government can no longer afford fuel subsidy, as revenues and foreign exchange earnings have fallen by almost 60%, due to the downturn in the fortunes of the oil sector. Yet, the government has had to sustain expenditures, especially on salaries and capital projects. Even though we have acted to mitigate the effect of the economic s
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