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Petrol Subsidy Gulps N18.4bn Daily
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the government spends N283 per litre of Premium Motor Spirit or N18.397bn per day as subsidy. She said this during an interaction with the House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022 over…
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NNPC Records N234.722b Petrol Sale In January
The Nigerian National Petroleum Corporation recorded about N234,722,222,150 from the sale of the Premium Motor Spirit in January 2021. The corporation supplied 1.44billion litres in the month translating to 46.30 million litres of the product daily. In the month under review, a litre was least sold for N162.50. NNPC Group General Manager, Group Public Affairs…
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FG To Increase PMS To N234, Says Subsidy Is Too Expensive
The Federal Government of Nigeria, through the NNPC, has said it can no longer afford to pay subsidies for Premium Motor Spirit (PMS) hence the planned increment of pump price from N162 to N234 per litre. The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mele Kyari, said subsidy currently costs the corporation N120…