Fuel Subsidy Payment Drops To N4.48/litre - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Fuel Subsidy Payment Drops To N4.48/litre (13758 Views)
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| Fuel Subsidy Payment Drops To N4.48/litre by Firefire(m): 5:36am On Dec 16, 2014 |
LAGOS — Following the continuous decline in the prices of crude oil in the international market, the amount the Federal Government is paying on subsidy for Premium Motor Spirit, PMS, has dropped to N4.48 per litre. This came as the Nigerian National Petroleum Corporation, NNPC, assured Nigerians that the ongoing strike embarked upon by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the National Union of Petroleum and Natural Gas Workers, NUPENG, will not disrupt the supply of petroleum products to members of the public. The Petroleum Products Pricing Regulatory Agency (PPPRA), in a document obtained from its website, yesterday, puts the market price of PMS at N101.48 per litre, as at December 12, 2014, compared to N108.38 per litre as at December 9, 2014. According to the PPPRA, the Expected Open Market (EOMP) of fuel is N101.48; Landing Cost -N98.15; Ex-Depot price is N81.51 per litre, while the regulated price is N97 per litre. The assurance by the NNPC is against the backdrop of long queue of vehicles that resurfaced at most filling stations in the Federal Capital Territory, FCT, and its environs yesterday on account of the strike announced by the unions. http://www.vanguardngr.com/2014/12/crude-price-decline-fuel-subsidy-payment-drops-n4-48litre/ 1 Like 2 Shares |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by temitemi1(m): 5:41am On Dec 16, 2014 |
Why is queue everywhere then  |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Godfullsam(m): 5:50am On Dec 16, 2014 |
Fuel subsidy has dropped to its lowest ebb and we still pay close to hundred naira per litre This adminitration is not only clueless but also dubious35 Likes 1 Share |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by seanet02: 5:53am On Dec 16, 2014 |
What happened to the budgeted oil subsidy? Are the state governors going to get a reimbursement or have the federal government cornered everything? 7 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by courage54(m): 5:55am On Dec 16, 2014 |
The only problem I can say Nigeria is facing is corruption. Take away corruption and 50% of our problem is solve. Is only an incorruptible leader like BUHARI that can successful curtail corruption in Nigeria. Sai BUHARI 42 Likes
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| Re: Fuel Subsidy Payment Drops To N4.48/litre by RockMaxi: 5:59am On Dec 16, 2014 |
Godfullsam:  Don't be furious yet, save the energy till you discover without doubt how you have been subsidizing the government with the abracadabra Oil accounting. GOD is writing with his finger on the wall for all to see, only the discerning heart will see it. Forget the Propaganda been used as the noise to confuse you. Somethings are not right with fuel subsidy. The secrecy is deep.  19 Likes 2 Shares |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:03am On Dec 16, 2014 |
Subsidy must go No more free money again Subsidy should be invested into agriculture and industrialization Why are cocoa groundnut palm oil and other resources wasting 3 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by LordMecuzy(m): 6:21am On Dec 16, 2014 |
Nawa ooooooh Naija d More u Look, The Less u See 2 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by holatin(m): 6:23am On Dec 16, 2014 |
and I still buy fuel at 100. D only thing we hear is news, no change. Don't know ow gullible they think we are. Anyway Jonathan for otueke Buhari for president 17 Likes 1 Share |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by sccofield(m): 6:24am On Dec 16, 2014 |
hmmmmm |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by thegoodjoehunt3(m): 6:24am On Dec 16, 2014 |
WhiteTechnology:Who will invest it? Do you know Billions have been wasted by this government? If you scrap the Subsidy, then kiss the little dividend of being an oil producing nation goodbye. Nothing was achieved with the so called partial subsidy removal/Sure-P Money. 8 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Iaz93: 6:24am On Dec 16, 2014 |
I thought it was Fuel selling for #4.48 per litre ooh.  7 Likes 1 Share |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by carterguccy(m): 6:25am On Dec 16, 2014 |
This government is tiring .... 2 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by pussyeater(m): 6:25am On Dec 16, 2014 |
NL's nor dey sleep? See as everybody dey hustle FTC! |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by PerfumeRepublik: 6:25am On Dec 16, 2014 |
WhiteTechnology: The FG needs to fix electricity. Do you know how many million litres of PMS and AGO we use to power generators everyday? Anyways lower subsidy payments is good news though 1 Like |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Hollawaley(m): 6:25am On Dec 16, 2014 |
Na dem know jare #GEJ TILL 2015 1 Like |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by lakamua: 6:26am On Dec 16, 2014 |
WhiteTechnology:are you a motor park chairman. You dont sound educated at all 4 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:26am On Dec 16, 2014 |
thegoodjoehunt3: Let it go. 1 Like |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:26am On Dec 16, 2014 |
Hmm |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by megabyte2(f): 6:26am On Dec 16, 2014 |
Okay |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Rapsodee(m): 6:27am On Dec 16, 2014 |
FUEL SUBSIDY GEJ:I am pleased to announce the removal of the...of the . .of the. ..fuel subsidy Yes!!! and we promise that all the things we didn't do before we will surely use this money to do it! 3 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by thegoodjoehunt3(m): 6:27am On Dec 16, 2014 |
WhiteTechnology:More like let them eat the money. |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by lakamua: 6:27am On Dec 16, 2014 |
Stop complaining. Just wait for feb 14 and kick that useless thief out 8 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:27am On Dec 16, 2014 |
. |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by estyvino(m): 6:27am On Dec 16, 2014 |
Oil price dey fall.. But why?! Modified! Okwesiri ikele men |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by mistabiola: 6:28am On Dec 16, 2014 |
Same old story, we keep operating paper economy  1 Like |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Agimor(m): 6:29am On Dec 16, 2014 |
Someone should outline the benefits |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:29am On Dec 16, 2014 |
lakamua: Eyaaaaaaa Sorry No wonder your hero said he will stabilize oil market Lazy boy go buy your farm tools Oil wealth is going and cocoa groundnut wealth will return back which we will use to fund other subsidy |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by kwamone: 6:30am On Dec 16, 2014 |
HISTORY OF FUEL PRICE INCREASES IN NIGERIA (K for kobo, N for Naira) •Gowon - from 6k to 8.45kobo •Murtala - from 8.45k to 9k •Obasanjo - from 9k to 15.3k •Shagari - from 15.3k to 20k •Buhari - from 20k to 20k (Price remains the same) •Babangida - from 20k to 39.5k •Babangida - from 39.5k to 42k •Babangida - from 42k to 60k (Private Vehicles) •Baban gida - from 60k to 70k •Shonekan - from 70k to N5 (Naira) •Abacha - from N5 to N3.25k (Price drops) •Abacha - from N3.25k to N15 •Abacha - from N15 to N11 (Price drops) •Abubakar - from N11 to N25 •Abubakar - from N25 to N20 (Price drops) •Obasanjo - from N20 to N30 •Obasanjo - from N30 to N22 (Price drops) •Obasanjo - from N22 to N26 •Obasanjo - from N26 to N42 •Obasanjo - from N42 to N50 •Obasanjo - from N50 to N65 •Obasanjo - from N65 to N75 •Yar'Adua - from N75 to N65 (Price drops) •Jonathan - (New year present) N141 •Jonathan - (After labor strike) N97 BUHARI and YAR'ADUA did not increase prices. 39 Likes 5 Shares |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by kccarew(f): 6:31am On Dec 16, 2014 |
We also need to have our own refinarries here at home, instead of exporting and then import again at a higher price, can u imagine on our own raw material again, we need to think outside the box mr gej, spend the money, we have it, so spendd it on something that will help us grow and nobody will question u for that, like we need u to spend the money on ammunations For our combating soliders 4 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by EddyNumerouno(m): 6:32am On Dec 16, 2014 |
Iys N105 per liter in most parts of the east 2 Likes |
| Re: Fuel Subsidy Payment Drops To N4.48/litre by Nobody: 6:34am On Dec 16, 2014 |
And what are Nigerians going to benefit from being an oil producing country? There's no welfare system in place, despite the oil...and the meagre subsidy they benefit from oil, is about to be cut - shameful. This is the worst form of extreme capitalism ever known to mankind! Also, oil prices has dropped, shouldn't the price of oil derivatives also drop as well? 2 Likes |
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