Nigerians React As Petrol Sells For N52/Litre In Libya

Nigerians have expressed frustration and envy after reports emerged that petrol in Libya is being sold for just N52 per litre, while in Nigeria, the price has skyrocketed to N1,000 per litre, and even higher on the black market at N1,600.

https://www.globalpetrolprices.com/gasoline_prices/

According to Global Petrol Prices, Libya offers the cheapest petrol in Africa at 0.15 Libyan Dinar per litre, equivalent to $0.032 or N52, as of September 16, 2024. By contrast, Egypt, Algeria, and Angola also sell petrol at cheaper rates than Nigeria, with prices ranging from $0.279 to $0.351 per litre.

Libya’s cheaper petrol has left many Nigerians questioning the nation’s oil management, with some calling for immediate reforms to ensure that the country’s wealth in natural resources benefits its citizens directly.

Meanwhile, in other parts of Africa, the Central African Republic remains the most expensive country for petrol, at $1.83 per litre, while countries like Senegal, Seychelles, Zimbabwe, and Morocco also face high fuel prices ranging from $1.527 to $1.646 per litre.

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However, scores of Nigerians have taken to their social media platform X (formerly Twitter) to express their frustration over the news that petrol in Libya is being sold for just N52 per litre.

One user, @Abbadanejo, highlighted Libya’s resistance to external economic pressures: “This is very true despite the devastating war that NATO used to destroy Libya. They’re close to zero inflation and prices have been the same since 2010. You know why? It’s simple, because they didn’t succumb to IMF monetary policy.”

Another user, @femi_worship, drew a comparison between Libya’s small population and its oil output. “Libya has just 7 million people. That’s around the population of Oyo State alone. Libya is producing 1.2 million barrels of oil per day, the same as Nigeria. If the government is not subsidizing them, their government dey craze.”

Others expressed their frustration with Nigeria’s economic situation, particularly the removal of fuel subsidies. @imermu noted, “Despite the Libya war, their government still subsidized its petrol for the benefit of the citizens, while in Nigeria, the story is different.”