SUBSIDY RISES TO 47.5 NAIRA PER LITRE
Written by thereachfm on December 27, 2019
Data released by Petroleum Products Pricing Regulatory Agency has revealed that the subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per litre as the expected open market price of the commodity hit N180.78.
Figures from PPPRA also showed that the Nigerian National Petroleum Corporation is currently spending an average of N47.5 as subsidy on every litre of PMS.
Brent, the international benchmark against which Nigeria’s oil is priced, appreciated on Thursday to $67.86 per barrel, as it increased by $0.66 when compared with the previous day’s price.