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The price of petrol could have been anywhere between N211 and N234 per litre, N120b - Printable Version +- Forums (http://contripeople.com) +-- Forum: Retired Forums (http://contripeople.com/forumdisplay.php?fid=78) +--- Forum: Retired Forums. Please Make Your Post Within The 3 Forums In General Discussion (http://contripeople.com/forumdisplay.php?fid=49) +---- Forum: Oil/Gas (http://contripeople.com/forumdisplay.php?fid=41) +---- Thread: The price of petrol could have been anywhere between N211 and N234 per litre, N120b (/showthread.php?tid=45793) |
The price of petrol could have been anywhere between N211 and N234 per litre, N120b - Edoman - 03-25-2021 The price of petrol could have been anywhere between N211 and N234 per litre, N120b is spent on petrol subsidy monthly - NNPC GMD, Mele Kyari General Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has hinted on Premium Motor Spirit also known as Petrol selling between N211 and N234 per litre. Kyari who spoke at the ministerial briefing at the Presidential Villa in Abuja on Thursday March 25, said the NNPC can no longer bear the burden of underpriced sales of premium motor spirit (PMS). The NNPC GMD also disclosed that the federal government is working to deepen the auto-gas programme which will serve as alternative to petrol. He said; Quote:“The price could have been anywhere between N211 and N234 to the litre. The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost. Kyari further revealed that petrol is currently being subsidised at the cost between N100 and N120 billion on monthly basis. The NNPC GMD said government was being considerate of actual impact of the price increase on Nigerians, but also added that market forces must be allowed to determine the pump price of petrol in the country. RE: The price of petrol could have been anywhere between N211 and N234 per litre, N120b - Edoman - 03-26-2021 Petrol Price Has Been Anywhere Between N211 And N234 Per Litre, N120b Is Spent On Petrol Subsidy Monthly – NNPC GMD, Mele Kyari March 26, 2021 Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari has hinted on Premium Motor Spirit also known as Petrol selling between N211 and N234 per litre. Kyari who spoke at the ministerial briefing at the Presidential Villa in Abuja on Thursday March 25, said the NNPC can no longer bear the burden of underpriced sales of premium motor spirit (PMS). The NNPC GMD also disclosed that the federal government is working to deepen the auto-gas programme which will serve as alternative to petrol. He said; Quote:“The price could have been anywhere between N211 and N234 to the litre. The meaning of this is that consumers are not paying for the full value of the PMS that we are consuming and therefore someone is paying that cost. Kyari further revealed that petrol is currently being subsidised at the cost between N100 and N120 billion on monthly basis. The NNPC GMD said government was being considerate of actual impact of the price increase on Nigerians, but also added that market forces must be allowed to determine the pump price of petrol in the country. |