FG recommences subsidy payment

The Federal Government reportedly recommenced the payment of subsidy on petrol.

It was further reported that Nigerian government subsidised the commodity by N5.84 for every litre of premium motor spirit consumed in Nigeria. The FG also announced that the current official pump prices of petrol would remain at N86 per litre when purchased at filling stations run by the Nigerian National Petroleum Corporation and N86.5 per litre when sold at outlets operated by other oil marketers.

It should be noted that the Nigerian government stopped subsidy on petrol in January 2016 after the review of the pricing template of the product by the government.

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