Abuja - The Federal Government has announced an official removal of the kerosene subsidy countrywide, fixing the pump price to N83, Punch reports.
According to the Petroleum Products Pricing Regulatory Agency (PPPRA), the price of kerosene will now sit at N10.72 higher than the Expected Open Market Price (EOMP) of the commodity.
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The EOMP is the sum of all costs involved in producing the product, minus any mark-up from companies.
With kerosene being one of the most consumed products by low income earners in the country, many will be hit hard by the rise in price.
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