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|Why Is FG Nolonger Subsidising Fuel? (a Must Read) by gregg2: 2:52pm On Jul 17, 2015|
Average price of fuel across the country in June was N112.13 per litre, National Bureau of Statistics, NBS, PMS Watch has shown.
This is about N25 or about 30 percent higher than the official pump price of N87 per litre.
However, NBS did not state which segment of the market it measured as most parts of the country witnessed price surges in the black market (street hawkers) at between N300 and N500 per litre for some weeks in May, a development which may have resulted in marking the month as the average peak price since 2014, when the market research began.
The report released yesterday also indicates that though there was a 5.3 percent drop against previous month’s record high of N118.4, fuel prices have been on high pitch since this year, yielding an overall year-on-year increase of 7.3 percent above 2014 average.
Surprisingly, the state with the highest price was Bayelsa, a major oil producing state, at retail price of N155 per litre, up from N115 recorded in the previous month.
Measured against the national figure and trend, Bayelsa also presents a surprising position as it records fuel price far above national average and also moving up negatively against the price decline in the national average.
Some other states, which recorded highest average prices are Niger at N138.3; Kogi, N128.3 and Adamawa, N122.5.
The three states also show declines in the prices between May and June.
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by Nobody: 3:10pm On Jul 17, 2015|
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by manutdadex(m): 3:18pm On Jul 17, 2015|
wetin u want make duladinho do? at his pace… ..fuel will start selling at 87 in three yrs time. be patient
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by betty202020(m): 3:37pm On Jul 17, 2015|
manutdadex:but buhari said that there is no reason to stop fuel subsidy. its either they are confuse as well as buhari is or both of they are dol.lar.di.ho club .
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by BLOTRS: 3:39pm On Jul 17, 2015|
FG is still subsizing fuel i'm 100% sure of that. but you know, a govt. built on propaganda can't tell its left from its right.
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by gregg2: 9:14am On Jul 18, 2015|
Then, why are most filling stations under lock and key? I've been buying fuel at an average of #110 (instead of #87) the last two months
|Re: Why Is FG Nolonger Subsidising Fuel? (a Must Read) by betty202020(m): 9:24am On Jul 18, 2015|
gregg2:best direct to buhari who said that there is NO tangible reason to remove subsidy. which means he pays subsidy yet u buy at #110. APC asked gej to reduce fuel to #40 by the time gej reduced it from 97 to 87. buhari is in best position to answer that after paying subsidy. Nigeria is in for long hardship.
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