‎Fuel Now 50% Cheaper Than Global Average, No More Queues – NRS Boss
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‎The Chairman of the Nigeria Revenue Service, Zacch Adedeji, has defended Nigeria’s current fuel pricing, stating that petrol is now significantly cheaper compared to global benchmarks, while also highlighting the disappearance of fuel queues across the country.
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‎Speaking during the commissioning of a new revenue service building, Adedeji attributed the development to ongoing reforms in the downstream petroleum sector, particularly the operationalisation of local refining capacity.
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‎“Globally, today we are 50% lower than the price, and that’s because you allow local refineries to work. Thank you, Mr President, that we don’t have a queue today,” he said during an interview on Channels Television.
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‎His remarks come amid sustained public debate over the rising cost of petrol following the removal of fuel subsidy by the administration of President Bola Ahmed Tinubu. While prices have increased domestically, government officials have consistently argued that Nigeria’s fuel pricing is now more aligned with global market realities.
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‎Adedeji emphasized that the shift towards local refining, driven largely by private sector investments such as the Dangote Refinery, is beginning to yield tangible results, including improved supply stability and the elimination of long-standing fuel queues.
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‎Industry analysts note that while the availability of petrol has improved, affordability remains a major concern for many Nigerians, as higher fuel costs continue to impact transportation and the overall cost of living.
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‎The government, however, maintains that the current policy direction is essential for long-term economic sustainability, reducing dependence on imports, and strengthening Nigeria’s energy security.
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‎As reforms continue to unfold, the debate over pricing, affordability, and economic impact is expected to remain a central issue in Nigeria’s public discourse.