By Princely Onyenwe, Imo
By the statement of the president on the Nigeria 60th day independence celebration, “It makes no sense for Oil to be cheaper in Nigeria than Saudi Arabia” A lot of reactions have continued to kick against such a stance by the presidency with critical analysis on the differences between other countries such as Saudi Arabia and Nigeria.
On a chat with 9News Nigeria, Nigerians have expressed their ill feelings towards the continuous increase of fuel price and its devastating effects on the economy and the populace.
On minimum wage, it is crystal clear that minimum wage of Saudi Arabia is ₦305,113, Egypt is ₦222,481 and Nigeria is ₦30,000. How then could Nigeria government had kept increasing the prices of fuel, kerosine and cooking gas mostly at this time when we are about coming out from the ravages of the COVID-19 pandemic which has eaten deep the economy of the world.The power sector that controls the centre of economic development is ineffective and has crumpled Nigerian economy.
It is also very important to note that South Africa is growing speedily in their economy than Nigeria.
Ghana as a country, without doubt, enjoys steady power supply than Nigeria and this has improved their economy and affected every other sectors of development like education and production.
In addition, countries like Brazil, India, Pakistan and Egypt that share the same independence date with Nigeria have outgrown the level Nigeria is still working on till date.
The people are very confused about the setbacks in the polity where precisely its negative effect has stagnated both the production sector and the oil sector which has wounded every other sector of Nigerian economy.
Nigerians have reiterated its important need to readjust this steady hike in the oil sector to reduce fuel pump price, electricity tariffs, cost of cooking gas, building materials and foodstuffs and to stabilize the Nigerian Economy.
9News Nigeria (Owerri)
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