Wednesday, 11 May 2016

Federal Government Removes Petrol Subsidy. Set to sell for N145 per litre. cc @DrJoeAbah

The Federal Government has finally removed subsidy from sale of Premium Motor Spirit, PMS, also known as petrol with immediate effect. 

NNPC sources this afternoon said marketers are now free to bring in cargoes and sell, subject to meeting standard quality control.

It however added that a benchmark of N145 per litre, as a recommended pump price, at which any trader, irrespective of the source of foreign exchange used to import cargo is guaranteed an adequate profit.

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