The table below (average monthly prices paid by Nigerians in the 36 states and FCT for PMS) released by the National Bureau of Statistics (NBS) shows why there is no better reason to scrap fuel subsidies immediately.
According to the NBS no Nigerian bought PMS (petrol) at the Government control price of N87 per litre anytime in the past 5 months.
This begs the question, who are those receiving subsidy payments from the Government that will cost Nigeria a reported $5 billion in 2015?
