FG Officially Removes Fuel Subsidy; See How Much Fuel Will Now Be Sold Per Litre

11th May 2016
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FUEL

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 adequate profit. Details later…

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