The Federal government, has said that it can no longer afford to subsidize the Premium Motor Spirit (PMS) following the fraud that has attended its operation, stressing that the product will sell for N85 per litre as from the first day of January, 2016.
The minister of State for Petroleum, Emmanuel Ibe Kachikwu, disclosed this during his inspection of the Port Harcourt Refinery Company (PHRC), on Christmas day.
The current official price of the product is N87 but it sells for as high as N350 in some states of the federation with the country experiencing more than two months biting fuel scarcity.
Dr. Kachikwu said that the new price template of the Petroleum Product Pricing Regulation Agency (PPPRA), was approved by the Federal government on Thursday, adding that the new price will convince Nigerians that the pricing modulation that the Muhammadu Buhari-led government promised to embark is not a trick.
“We have done a modulation calculation and it is showing us below N87,” Mr. Kachikwu said. “I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at.

Source: http://www.vanguardngr.com/2015/12/fg-removes-fuel-subsidy-says-petrol-to-sell-for-n85-per-litre/

Okay, what was the noise of removal of subsidy for all these while
May God help this country

I Rep. Change.
GOD BLESS NIGERIA.

pet4ril:
Okay, what was the noise of removal of subsidy for all these while
May God help this country

If it was Jonathan's and Mauduike's government, Fuel will sky rocket in the name of subsidy removal...despite the low price of oil per barrel world wide. That is what the noise subsidy is about.


Merry Christmas to the Wailing Wailers and the Ekpas!!!!

Nice move.....

Till date, only buhari and yaradua reduced the pump price.


Buhari is doing it for the second time.

Igbeyi aye subsidy.....

crownprince102:
Nice move.....


Till date, only buhari and yaradua reduced the pump price.



Buhari is doing it for the second time.

Madukwe and Jonathan also removed 10 naira...months after the price of oil dropped globally. it is interesting to know that 10naira reduction was an insignificant reduction considering the rate at which oil price dropped then.

koboko69:


Madukwe and Jonathan also removed 10 naira...months after the price of oil dropped globally. it is interesting to know that 10naira reduction was an insignificant reduction considering the rate at which oil price dropped then.

thanks for remembering me...... God bless u



but oga jona is still lost on list of those who did not increase it

I think they need to stop making noise and ensure the fuel is available first.

THOSE WHO THINK THIS COUNTRY CANNOT GET BETTER THAN THEIR THOUGHT WILL KEEP WILLING WHILE WE MOVE FORWARD

It's next week Friday o! We are waiting.

Thank God

4yrs after,we are hearing abt subsidy on Jan 1 again.
Mean while it is my Birthday today