Subsidy On Petrol Now N18.68/Litre – PPPRA - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
November 19, 2019
The Petroleum Products Pricing Regulatory Agencysaid that the current open market price for Premium Motor Spirit, popularlyknown as petrol is 163.68 naira per litre.
PPPRA stated on its website that the price of PMS asof November 15, 2019 was N163.68/litre, in contrast to the regulated pump priceof N145/litre for which the commodity is sold at filling stations.
This implies that the Nigerian National PetroleumCorporation, which currently is the sole importer of petrol into Nigeria, mightbe subsidising the commodity by N18.68/litre.
In its Petroleum Products Pricing Template released,the PPPRA explained that the landing cost of petrol was 147.95 naira per litre.
It put total distribution margins for the product at19.37 naira per litre, making the total cost of the open market price of petrolto be 163.68 naira per litre.