FG ends kerosene subsidy, pegs price at eighty-three naira per litre

Written by on January 25, 2016

krnThe Federal Government has hiked the price of Household Kerosene (HHK) to eighty-three naira per litre from fifty naira per litre, thereby, officially ending subsidy on the product.  The Petroleum Products Pricing Regulatory Agency, PPPRA, in its product pricing template released on Sunday however, stated that the eighty-three naira per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount.

 

The template also showed that at eighty-three naira, the Federal Government will be making a gain of ten naira, seventy-two kobo on every litre. Executive Secretary of the PPPRA, Mr. Farouk Ahmed, who made the announcement on Sunday, said the revised template, which would be reviewed on quarterly basis, is geared towards ensuring an efficient and market-driven price that would reflect current realities.


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