The pump price of petrol may sell for less than N87 per litre before the end of the first quarter of 2016, latest findings from the Nigerian National Petroleum Corporation have revealed.

This is coming as the corporation also announced that the Kaduna Refining and Petrochemical Company would start producing petroleum products beginning from today (Saturday).

According to the NNPC, the current pricing template for petrol, which was prepared by the Petroleum Products Pricing Regulatory Agency, contains significant inefficiencies that should be reviewed.

The corporation’s Group General Manager, Corporate Planning and Strategy, Mr. Bello Rabiu, told journalists in Abuja on Friday that going by the fall in the price of crude oil, it was important to consult relevant stakeholders in order to produce an adjusted template.

Rabiu said consultation with stakeholders was to negotiate and reduce some of the costs associated with the importation of petrol, adding that the government had the target of reducing the amount charged for logistics and distribution margin on every litre of premium motor spirit consumed in Nigeria.

The GGM was affirmative that the adjusted template would surely have a considerable reduction in the pump price of petrol when it is completed before the end of the first quarter of next year, stressing that when this is achieved, there would be no need for subsidy as the import price of PMS would have reduced considerably.

http://www.joyakosacorner.com/petrol-may-sell-below-n87per-litre-next-year-nnpc

All I want is a better nigeria
Just hit the like button 4 Amen.

Hoping it will be better. But I don't think it is possible to sell PMS at 87 next year.

let it sell For 87 naira 1st naa

May
Shall
Will
APC is nothing but present opposition gofmant of zi future

If subsidy is removed, will the price still be regulated? I tend to believe the same thing happening to diesel whose price has always been above N100 will happen to PMS when subsidy is removed

Abia!

Lordave:
Petrol may sell below #87 next year- Kachiukwu

Petrol will sell above #97 after subsidy removal next year- Buhari

Kachiukwu is sabotaging Buhari's government- Lie Mohammed


I am afraid we have a confused government- Tinubu

funny analysis

thunder faya APC ...may ko...Mary ni

Conflictin report everywhere

He for sweet o