Lagos - About N184.7 billion would be paid by the federal government to oil marketers as oil subsidy claims in the third quarter of 2014.
The figure is based on the Petroleum Products Pricing Regulatory Agency’s (PPPRA) approved price template for Premium Motor Spirit (PMS), reports The Guardian.
The latest pricing template of the agency indicates that the landing cost, including cost and freight, traders’ margin, lightering expenses, NPA, financing and other charges is suppose to be N147.62 per litre.
Government’s subsidy of the product is expected to rise to N50.62 per litre as the price of the product remains N97 per litre. Nigeria currently imports about 39.66 million litres of petrol daily.
Read more at The Guardian.
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