Mixed reactions have continued to trail the recent increase in the price of Premium Motor Spirit, popularly known as Petrol.

 
Many have argued that the timing is wrong, coming when Nigerians are battling with the effect of the coronavirus pandemic on the economy.
 
On the other hand, there is an argument that Nigeria pays the least amount for fuel consumption when compared with other west African countries.
Below is a comparative analysis of fuel prices among West African countries from lowest to the highest.

S/N COUNTRIES PRICES PER LITRE (equivalent in naira)
1.                  Nigeria                                   N162
2.                 Liberia                                     N257
3.                 Sierra Leone                             N281
4.                 Togo                                        N300
5.                 Ghana                                      N332
6.                Niger Republic                         N346
7.                 Benin Republic                        N359
8.                 Guinea                                     N363
9.                Chad                                         N366
10.               Burkina Faso                            N433
11.              Cameroon                                 N449
12.             Mali                                            N476
13.            Senegal                                      N549

COMPARISON BETWEEN GHANA AND NIGERIA’S DIESEL PRICES

Electricity supply in Ghana has not been able to meet up with its demand, hence the country’s reliance on diesel for electricity.

In Ghana, there tends to be persistent, irregular, and unpredictable electric power outages, commonly labelled “dumsor” among the locals. Ghana’s power generating capacity is currently 400-600 megawatts less than what Ghana needs, and more than 50% of Ghana’s electricity consumption is gotten from diesel and gasoline.

This has incurred huge cost of electricity in Ghana as the prices of gasoline and diesel are significantly high. Compared to Nigeria, the prices of gasoline and diesel in Ghana are highlighted below:
• Price of diesel in Nigeria – N224.43 per litre
• Price of diesel in Ghana – N360.78 per litre
• Price of gasoline in Ghana – N357

This shows that prices of diesel and gas used to cover electricity costs in Ghana are very expensive compared to Nigeria.