The Federal Government has finally removed subsidy from sale of Premium Motor Spirit, PMS, also known as petrol with immediate effect. NNPC sources this afternoon said marketers are now free to bring in cargoes and sell, subject to meeting standard quality control. It however added that a benchmark of N145 per litre, as a recommended pump price, at which any trader, irrespective of the source of foreign exchange used to import cargo is guaranteed adequate profit. Details later…

Read more at: http://www.vanguardngr.com/2016/05/breaking-fg-removes-subsidy-petrol-to-sell-for-145ltr/

*singing* Things are getting better...

Let's face it as long as we keep importing fuel...heads or tail, Nigeria loses. If crude price goes up, subsidy cost goes up and FG spends more. If crude price goes down FG faces dwindling revenue since we run a mono-economy.

Until we refine crude locally to meet the demands of the local market, the black gold will continually be a BLACK CURSE!!!