FG quietly approves ₦‎185 per litre as petrol pump price
By Dennis Erezi



The Federal Government has quietly approved ₦185 as the new petrol pump price per litre.


A source told The Guardian that the approved pump price was communicated to major marketers in a memo early Friday.

Our correspondent gathered that fuel stations in Lagos have started adjusting their pump price to the approved ₦185 per litre.

The newly approved price comes weeks after there had been nationwide petrol scarcity, leading to long queues in fuel stations since late November 2022.

Although the official pump price was ₦165 per litre many fuel stations sold fuel above ₦200 per litre in Lagos and other parts of Nigeria.


The Guardian reported last November that major petrol marketers adjusted fuel prices to meet their operating expenses

[url=https://guardian.ng/news/fg-quietly-approves-%E2%82%A6%E2%80%8E185-per-litre-as-petrol-pump-price/]Source[/url]

SpecialAdviser:
The more you look, the less you see.

Okoroawusa:
Still very low and that means subsidy is still being paid. We should do away with subsidy totally

Okoroawusa:
Still very low and that means subsidy is still being paid. We should do away with subsidy totally

Racoon:
Both you and the government many of you lots supported in the past 7 years ought to be jailed for life.

Kobonaire2023:
True, but we should also jail all those who supported subsidy in all the previous goverments. And most Nigerians. Because let us be honest, all govts keep subsidy because Nigerians want subsidy.That is why GEJ kept it , why Buhari kept it and why all their predecessor kept it. Even Abacha.

FreeStuffsNG:
FG should remember to give an equivalent of subsidy to those village folks without roads and electricty. The hypocutical lots enjoying both subsidies on petrol and electricity are the loudest when reminded that they ate the funds meant to support and help their kith and kin in their villages.

Kobonaire2023:
It would have been good if bubu had removed subsidy totally in 2015.

sleek214:
It's 195 in Abuja

Racoon:
Which Buhari? The sanctimonious hypocrite that ran the most fraudulent and scandalous govt ever seen in Nigeria. Buhari’s record of subsidy is horrible and the world would simply shudder in horror the day his govt corruption will be unearthed.

"...Subsidy gulps N150 billion every month.” N150 billion is still less than the N200 billion monthly transport bonus bill the regime will pay to 400 million Nigerians. In other words, Nigeria will spend more money on transport bonus to an amorphous, unidentifiable, and probably cooked-up 40 million poor Nigerians than the subsidies it says it pays on petroleum subsidies, which it says are too expensive to be sustainable. That makes absolutely no sense.

The last time the Buhari regime increased fuel prices last year, it said it had completely done away with fuel subsidies and had left the price of petrol to the vagaries of demand and supply. Now, the regime’s honchos say again that the subsidy they said they’d completely removed, for which there was no allocation in the 2021 budget, must be removed again! ....." https://gazettengr.com/farooq-kperogi-same-old-cruel-lies-to-justify-fuel-price-hike/

Kobonaire2023:


Yes, that is the cold fact. Whatever your political or religious beliefs, subsidy has to go. Cold fact

nedu666:


So dat nigerians can buy fuel at 800 a litre.
Check kerosene 800, diesel 820, gas 800. U think when subsidy goes fuel won't sell for 800.

Kobonaire2023:


Yes, because that is the only way we can stop losing money on smuggling, get domestic refining back up in this country, stop throwing free money at subsidy cabals year in and year out, and reduce our loan burden a lot.

Either we pay for fuel at the market price at the pump, or we pay for it at World Bank HQ.

Maybe you enjoy seeing your money used to feed subsidy cabals, and to subsidise fuel for most of the West African region. I don't.


Before you quote me....would you run your business at a loss to help the poor? Answer that before you quote me.

nedu666:
The problem is not subsidy but corruption. How can a country not know how many litres it consumes. Why is no refinery working. B4 removing subsidy, ensure there is 24/7 light because many homes and businesses depend on fuel. Failure to do so means mass unprecedented unemployment. Mass loss of purchasing power which leads to less business and subsequently more unemployment and lower tax collections
Second, ensure mass bus transit. Give each state 2000 long coaster bus. Otherwise prepare to spend 70% of ur income on transport

nedu666:


Who exactly is running his business at a loss? I hope u are not referring to nnpc and oil coys. In a country with so much secrecy and corruption, how do you know nnpc is telling the truth. Lets face facts if subsidy goes, this country will be a living hell for 90% of nigerians. Is it on 30k and below wage u want the citizens to survive. Nigerians are already over cutting their coats, any further cuts will impact massively on every individual and businesses in the country

Seefinish:
"Fuel subsidy is a scam' GMB now PMB