Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

Following Fuel Price Reduction, This Is How Much Nigeria Now Pays As Fuel Subsidy Per Litre

Nairametrics by Nairametrics
January 20, 2015
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

Filing station and fuel queues

The Federal Government through the Minister of Petroleum announced the reduction of fuel price to N87 beginning Monday. Before now, the PPPRA pricing template as at December 29, 2014 suggested subsidy payment of 90 kobo per litre but the price of crude has crashed to under $50 since then putting pressure on the government to reduce the price of fuel.

RelatedPosts

Leonardo Del Vecchio, the Italian billionaire founder of Ray ban dies at age 87

Celebrating the bold and audacious Nigerian youths with Lord’s Achievers Awards

Now that the price of fuel has been reduced, the argument has now moved towards how the price was arrived and if the cut was deep enough. Some even suggest the government was in fact ballooning subsidy payments at a time when it could have wiped it out. But how much subsidy are we paying now? A premium times articles broke it down as follows;

The Executive Secretary of PPPRA, Farouk Ahmed, said on Monday that based on the landing cost of N74.35 per litre of PMS as at the close of business on Friday, January 16, 2014, the addition of distribution margin of N15.49 per litre would translate to an open market price, or pump price of N89.84 per litre. The price, according to Mr. Ahmed, is more by N2.84 than the N87 per litre approved by the Federal Government and announced by the Minister of Petroleum Resources, Diezani Alison-Madueke, on Sunday.

So, by implication this is the break down;

Landing Cost                74.35
Distribution Margin    15.49
Total                               89.84

Less Pump Price          87.00

Fuel Subsidy            2.84

More in PremiumTimes

Related

Tags: Fuel SubsidyNews Review

Comments 1

  1. marshal says:
    January 22, 2015 at 1:56 pm

    better than never

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Leonardo Del Vecchio, the Italian billionaire founder of Ray ban dies at age 87
    • Celebrating the bold and audacious Nigerian youths with Lord’s Achievers Awards
    • Davido discusses raising over N200 million for charity on The Daily Show

    Follow us on social media:

    Recent News

    Leonardo Del Vecchio, the Italian billionaire founder of Ray ban dies at age 87

    Leonardo Del Vecchio, the Italian billionaire founder of Ray ban dies at age 87

    June 27, 2022
    Celebrating the bold and audacious Nigerian youths with Lord’s Achievers Awards

    Celebrating the bold and audacious Nigerian youths with Lord’s Achievers Awards

    June 27, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com