Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has questioned why Nigerians cannot enjoy lower petrol prices similar to those in oil-producing countries such as Saudi Arabia, Kuwait, Angola and the United Arab Emirates.
Atiku, in a statement issued by his media team on Tuesday, criticised the recent increase in the price of Premium Motor Spirit (PMS), which he said had placed further pressure on Nigerians already struggling with economic challenges.
The former vice president’s reaction followed the increase in petrol prices to between N1,310 and N1,345 per litre in Abuja and surrounding areas. The hike came after major fuel marketers, including the Nigerian National Petroleum Company Limited (NNPCL), MRS and other retailers, adjusted their prices upward.
Atiku noted that while Nigeria’s minimum wage stands at N70,000, petrol prices in the country are approaching N1,400 per litre, unlike several oil-producing nations where citizens pay significantly less.
He cited petrol prices in Saudi Arabia at about N778 per litre, Kuwait at N872, Algeria at N475 and Angola at N441, adding that even the United Arab Emirates sells petrol below Nigeria’s current price despite having higher average incomes.
“For more than three years, Nigerians have endured punishing transport fares, soaring food prices, crippling energy costs and wages that buy less every month,” Atiku stated.
He questioned why the government waited for years before acknowledging the need for economic growth that would positively impact ordinary Nigerians.
According to him, oil-producing countries have used their natural resource advantage to reduce the burden of energy costs on their citizens, while Nigeria has taken the opposite approach by allowing petrol prices to rise sharply.
“Nigeria sells petrol at roughly N1,400 per litre and ranks around 164th,” Atiku said, calling for policies that would make the country’s oil wealth benefit Nigerians more directly.
Samuel Agada is a writer and media contributor from Olamaboro Local Government Area of Kogi State, Nigeria. He is a graduate of Biochemistry from the University of Jos and a former banker with GTBank and FCMB. A prolific writer, songwriter, educator, and Gospel preacher, he is passionate about informing, inspiring, and impacting society through his work.