Donald Duke Addresses Nigeria's High Petrol Prices

Donald Duke, the presidential candidate for the Peoples Redemption Party, claimed that Nigerians pay more for petrol due to high security expenses and deteriorating infrastructure, which raise production costs to between $25 and $45 per barrel. He made these statements during an appearance on Arise Television.

Duke noted that the actual cost of extracting crude oil in Nigeria is between $12 and $15 per barrel. He criticized the additional security costs that oil-producing companies incur, arguing that these expenses should be addressed to lower petrol prices and reduce the cost of living for citizens.

Duke emphasized that as an oil-producing nation, Nigeria should provide cheaper energy for its citizens. He pointed out that energy is crucial for productivity and questioned why the country struggles with high petrol prices despite its oil wealth, stating that Nigeria produces approximately 1.7 to 1.8 million barrels of oil daily.