News FG returns petrol subsidy, retains

The Federal Government on Saturday recommenced the payment of subsidy on petrol as it subsidised the commodity by N5.84 for every litre of premium motor spirit consumed in Nigeria.

Subsidy on petrol was stopped in January after the review of the pricing template of the product by the government.

It also announced that the current official pump prices of petrol would remain at N86 per litre when purchased at filling stations run by the Nigerian National Petroleum Corporation and N86.5 per litre when sold at outlets operated by other oil marketers.

The government further said petrol scarcity would end in a few days, but was silent on the specific day or date.

Figures from the latest pricing templates of the Petroleum Products Pricing Regulatory Agency released on Saturday, showed that the Federal Government was paying N5.84 as subsidy on every litre of petrol sold at non-NNPC filling stations. Read more......THE PUNCH

Comments

Post a Comment

Popular posts from this blog

PDP’s reconciliation moves may offer Saraki a lifeline

Image
Considering his current battles with the All Progressives Congress and the Code of Conduct Tribunal, Senate President Bukola Saraki may be offered a way of saving his political career should he end up being convicted by the Tribunal. It would be recalled that Saraki is just one of the many other politicians who defected from the PDP to the APC before the eventual loss of Federal power by the former ruling party.Saraki is on trial at the CCT for alleged false assets declaration from 13 years ago when he was governor of Kwara state. Saraki alongside Senator Rabiu Kwankanso, a former governor of Kaduna state are being wooed by the PDP to return to the party following an ongoing restructuring process. According to Punch Newspapers, a PDP chieftain stated that the party was making moves to reconcile some of the members of the party that defected at some point. He said the party “made a mistake by dismissing the influence of these politicians. You will recall that Kwankaso...
Get the gist »

Failure of bio-metric machine stalls payment of N5, 000 stipends in Kwara– Official

Image
Mrs Aminat Yahya, the Director, Conditional Cash Transfer Scheme in Kwara , said failure of the biometric machine stalled the payment of the Federal Government’s N5,000 stipends beneficiaries in Kwara. Yahya told the News Agency of Nigeria (NAN) in Ilorin on Friday, that the exercise ran into a hitch in Isin and Oke-Ero Local Government Areas of the state#, adding that the machine went bad when it was being used to pay farmers in the two areas. She also said that thumb prints of farmers were not captured easily in the biometric data due to the nature of their occupation. “Farmers’ thumbs, especially in Isin and Oke-Ero and some other areas, too, could not be thoroughly captured.
Get the gist »