Petrol in Egypt cost N211 per litre, that is N49 more than the recently increased price of N162 in Nigeria, and the increment in price is as a result of the global price of crude oil.
Lai Mohammed, Minister of Information and Culture, made this known in Abuja while trying to justify governments decision to increase the price of fuel.
The Minister also suggested that the increased price will revert back if the price of crude oil drops again.
On that of electricity tariff, Lai Mohammed stated that the hike was due to a service based adjustment by Distribution Companies DISCOS.
Explaining further, he said the federal government has been supporting the sector even though it has been privatized, by borrowing to subsidize generation and distribution, and continuing to do so would be grossly irresponsible.
