Subsidy removal is the latest front burner of public discourse in Nigeria today and there is no shortage of facts to back either argument. Too bad many of these arguments ain’t backed by reality.
I have mashed data from World Bank and CIA Fact book about the average price of a liter of gasoline across different countries. The exchange rate used at the time of computation at the World Bank was N147 to a Dollar.
The table below shows the prices at the 18 cheapest locations too bad I can’t just drive there for a fill up:
| Country Name | $ 2010 | NGN 2010 | Output bbl/day |
| Venezuela | 0.02 | 3.40 | 2,375,000 |
| Iran | 0.10 | 14.33 | 4,252,000 |
| Saudi Arabia | 0.16 | 23.64 | 10,520,000 |
| Libya | 0.17 | 25.11 | 1,789,000 |
| Qatar | 0.19 | 28.07 | 1,437,000 |
| Bahrain | 0.21 | 31.02 | 46,430 |
| Turkmenistan | 0.22 | 32.50 | 202,400 |
| Kuwait | 0.23 | 33.98 | 2,450,000 |
| Oman | 0.31 | 45.80 | 867,900 |
| Algeria | 0.32 | 47.27 | 2,078,000 |
| Yemen | 0.35 | 51.70 | 258,800 |
| Brunei | 0.39 | 57.61 | 159,400 |
| Nigeria | 0.44 | 65.00 | 2,458,000 |
| United Arab Emirates | 0.47 | 69.43 | 2,813,000 |
| Egypt | 0.48 | 70.91 | 662,600 |
| Ecuador | 0.53 | 78.30 | 485,600 |
| Malaysia | 0.59 | 87.16 | 664,800 |
| Sudan | 0.62 | 91.59 | 514,300 |
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Note: This was an old post but seems pretty relevant today.
Hello! Just want to say thank you for this interesting article! =) Peace, Joy.
I respect your piece of work, thanks for all the informative blog posts.
I heard that stock trade audit is a new trend… Pls what are the challenges involve with the rapid increase of data