By our reporter 14.4.2026
Nigeria Revenue Service chairman Zach Adedeji said despite the high price of petro following President Bola Tinubu’s economic reforms, Nigerians still pay significantly lower price than the global average.
Mr. Adedeji who was speaking Tuesday during the commissioning of the agency’s headquarters in Abuja said comparative global data show that Nigerians still pay less for the product than in many other countries.
“People complain that the pump price is expensive, but as a data-driven student of economics, I brought the facts,” he said.
According to him, the average price of petrol in Nigeria is about $0.88 per litre.
“The price of petrol in Nigeria is approximately $0.88 per litre. In the United States, it is $1.70 (22 per cent higher); in India, it is 25 per cent higher; and in South Africa, it is 35 per cent higher. Globally, our prices are 50 per cent lower because you allowed local refineries to work,” Adedeji stated.
President Tinubu had, upon assumption of office, announced the removal of petrol subsidy, a policy that led to a sharp increase in fuel prices from below N200 per litre to nearly ₦1,000.
However, the price later climbed above ₦1,200 per litre in some locations following tensions in the Middle East and global supply pressures.
He argued Tinubu’s reforms have made the product more available.
“We would be facing massive queues, and fuel would be both expensive and unavailable. Today, supply is stable because it is easier to wait for deliveries from Lekki than to wait for imports from Europe.”