The Federal Government, weekend, hiked the price of Household Kerosene (HHK) also known as kerosene, to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product. ‎

The Petroleum Products Pricing Regulatory Agency, PPPRA‎, in its product pricing template released over the weekend, however, stated that the N83 per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount.

Curiously, the hike in the price of kerosene was coming at a time when the price of crude oil had dropped to record low, with the price of petroleum products, such as kerosene, fuel and diesel, among others, dropping significantly in a number of countries, like the United States‎.

This also brings to question, the recent reduction in the price of Premium Motor Spirit, announced by the Federal Government and which commenced at the beginning of the year.

Again, the PPPRA's template also showed that at N83 per litre, the Federal Government is making a gain of N10.72 for every litre, as it puts the Expected Open Market Price, which is the Landing Cost plus Total Margins at N72.28 per litre. The expected open market price is the prevailing open market rate for the productin Nigeria, after taking certain costs into consideration.

Giving a breakdown of the price, the PPPRA template put the Landing Cost of ‎the product at N57.98 per litre, while the total margin due‎ middlemen was put at N14.30.

Further breakdown of the Total Margins showed that retailers margin was put at N5per litre; Transporters - N3.05 per litre; Dealers - N1.95 per litre; Bridging fund - N5.85 per litre; Marine Transport Average - N0.15 and Admin‎ Charges - N0.15.

The PPPRA further put official ex-depot price, which is the price depot owners would sell at marketers, at N68.70 per litre, official ex-depot price for collection - N73 per litre, while ex-coastal price - N68.02 per litre.

http://www.vanguardngr.com/2016/01/fg-ends-kerosene-subsidy-hikes-price-to-n83-per-litre/

I don't have problem with removal of subsidy,what I have problem with is the benefit that will come after the hardship. In a sane country,removal of subsidy from a sector will bring development to not one but numerous other sectors

More woes for the common man.

Moni nr dey, kerosene moni dey increase. Shio Wetin dis govt don do, fight corruption, fight corruption man nr get work, fight corruption, fight corruption, Lassa disease dey kill many pipo, fight corruption, fight corruption, workers dey loose dia job, na so so corruption u go fight we go end up in 2019

Better when it was subsidised (suppose N50) they sold it above N250 so who is fooling who.

Great development

My mum has been buying kerosine @ #105-#120, so how would this news be helpful

We are in perilous times, honestly! However, wetin concern #Agbero with #Overload? I still get gas for a far cheaper price, just hoping that Tompolo wouldn't go ahead with his threat!

It has been #Angry#Nigerian

...and I'm just here to #SayMyMind

Awesome development. Another way to block unnecessary leakages.

AngryNigerian:
My mum has been buying kerosine @ #105-#120, so how would this news be helpful

We are in perilous times, honestly! However, wetin concern #Agbero with #Overload? I still get gas for a far cheaper price, just hoping that Tompolo wouldn't go ahead with his threat!

It has been #Angry#Nigerian

...and I'm just here to #SayMyMind

if you were truly buying it for that price, it means you should get ready for approximately 210 per litre now.


Its time to start using fire woods

End subsidy on fuel, end subsidy on kero, hope this isn't End time government?

Lalasticlala

http://www.vanguardngr.com/2016/01/fg-ends-kerosene-subsidy-hikes-price-to-n83-per-litre/

blueto:

if you were truly buying it for that price, it means you should get ready for approximately 210 per litre now.


Its time to start using fire woods

No...will get ready to invest in mini-gas station soon, & get a gas cylinder for mumsy

There was never a subsidy on it. it has been 550 a gallon since time imo river

#chai

I think it's a good one

my mom sells and she's been buying for over N100 since like forever, doesn't change nothing

Good one. I can authoritatively say that the N50 kerosene subsidy scam has been just as rewarding if not more than the petrol subsidy. Every non-NNPC station sold Kerosene for above N50 all these years since that subsidy was introduced.

I am a vocal pro-GEJ proponent and also a Nigerian. All good policies must be appreciated irrespective of the administration.

For all those whining about the effect on the common man. If the "common man" did not bother about buying a liter for over N100 when the government subsidized price was N50, then he should either shell out the cash or go F**K himself now that the subsidy has been removed and price is at N87.

-Lord

Hmmm is this good news?

It's a welcome development, all this subsidy must go,
We are too fraudulent to manage any subsidize initiative from the government.

Add 33Naira to the price Kerosene and remove 50kobo from PMS... This is real CHANGE. Lol..

The price here is based on 197 to $1.

If the currency is devalued to its true rate of between 230-250, the so called margins to the government will disappear

The governmemt will have no choice but to resume subsidising. Its best to fully deregulate the price as it has done in non-NNPC depots.

It should fully deregulate the price for petrol

this is bad good news to me.

apc promises are like China phones, they don't last long

Short changed. He hasn't even stabilised world oil price. Lagosians, I dey wait for una to protest o. Shey when Jonathan remove fuel subsidy una protest?, when him change unilag to maulag una protest?, when buhari promised to take fuel prices to 50 naira, una mumu believe the guy?. Now the change wey him mean don clear for una eyes ba?, make me wait for those idiots wey go come here dey say "it's just a matter of time e go better", "na the past administration fault", " I trust baba sha", etc. Buncha useless and jobless fellows.

nice move cos The fraud attached to the so called subsidy is just too much....

agonizing Nigeria.

So there was subsidy on it before and i buy it for #120 here. In fact it has no standard price. So with the subsidy removed. Smh. I fear the worse. Abeg make una no remove firewood own so that we get to fall back on something.

Khan1993:
So there was subsidy on it before and i buy it for #120 here. In fact it has no standard price. So with the subsidy removed. Smh. I fear the worse. Abeg make una no remove firewood own so that we get to fall back on something.

the old man go soon remove am on.

kkkk

Na hot plate sure pass