Buhari reportedly cuts fuel price by N1…as in ONE NAIRA
We heard President Muhammadu Buhari just slashed the price of petrol from N87 to between N86 and N85.
Minister of State for Petroleum, Ibe Kachikwu, is said to have made the announcement.
The new price was reportedly reached via a new price modulation approach devised by the Nigerian National Petroleum Corporation (NNPC).
It’s a margin of N1 plus or minus, but Nigerians will be glad the government is not hiking the price as some fear.
Buhari’s predecessor Goodluck Jonathan got into trouble in 2012 after removing fuel subsidy and later increasing fuel price from N65 to N97.
READ: Buhari and the history of fuel price increases in Nigeria
Jonathan later slashed the price by N10 before the 2015 elections but he was already a goner.
Most of the people who “ignorantly” protested then now urge Buhari to do away with the subsidy which economists say hurt Nigeria.
If NNPC’s new price policy is true, it could be said that Buhari has given Nigerians N1 change.
BTW, petrol has been scarce for a while. And you can longer buy them inside kegs.
So you do this if you need fuel for your power generator…
