Petrol To Sell For N145/Litre In Nigeria As Buhari Officially Removes Fuel Subsidy

Date: 11-05-2016 6:37 pm (7 years ago) | Author: Daniel Bosai
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- at 11-05-2016 06:37 PM (7 years ago)
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The federal government has announced the removal of subsidy on premium motor spirit (PMS), saying the pump price of petrol may trade at N145.



This is coming less than 24 hours after Ibe Kachikwu, minister of state for petroleum resources, announced that a new subsidy policy will soon be unveiled.



The development was attributed to the current fuel scarcity and supply difficulties in the country.

Kachikwu said in a statement in Abuja at the end of a meeting presided over by the Vice President Yemi Osinbajo that, “We share the pains of Nigerians but, as we have constantly said, the inherited difficulties of the past and the challenges of the current times imply that we must take difficult decisions on these sorts of critical national issues.

“Along with this decision, the federal government has in the 2016 budget made an unprecedented social protection provision to cushion the current challenges.





“The Petroleum Products Pricing Regulatory Agency (PPPRA) will be announcing a new price band effective today, 11th May, 2016 and that the new price for PMS will not be above N145 per litre.

“We expect that this new policy will lead to improved supply and competition and eventually drive down pump prices, as we have experienced with diesel. In addition, this will also lead to increased product availability and encourage investments in refineries and other parts of the downstream sector. It will also prevent diversion of petroleum products and set a stable environment for the downstream sector in Nigeria.

“We believe in the long term, that improved supply and competition will drive down prices.”


Posted: at 11-05-2016 06:37 PM (7 years ago) | Addicted Hero
- leodavinci at 11-05-2016 06:56 PM (7 years ago)
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Yawa dey o
Posted: at 11-05-2016 06:56 PM (7 years ago) | Upcoming
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- dickieponga at 11-05-2016 07:04 PM (7 years ago)
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Well done una dey try sha...
Posted: at 11-05-2016 07:04 PM (7 years ago) | Hero
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- schmit at 11-05-2016 07:06 PM (7 years ago)
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E gud for Una eyes?  Make  una mercy  for d masses.
E no affect  me here but e dey  affect  people  I get for Naija
Posted: at 11-05-2016 07:06 PM (7 years ago) | Hero
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- moralemike07 at 11-05-2016 07:23 PM (7 years ago)
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When do we protest for all these hardship this insensitive government is causing to poor Nigerians? When? My people when?
Posted: at 11-05-2016 07:23 PM (7 years ago) | Gistmaniac
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- luvllylolly at 11-05-2016 07:25 PM (7 years ago)
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Say Buhari,Say subsidy na wa oo
Posted: at 11-05-2016 07:25 PM (7 years ago) | Newbie
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- Nottingham at 11-05-2016 07:39 PM (7 years ago)
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You feel nothing? Do you buy PMS even with your huge salary and multiple allowances? Let politicians allowances be used in building industries and unnecessary convoy cars be given to the poor for cab
Posted: at 11-05-2016 07:39 PM (7 years ago) | Upcoming
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- gogoman at 11-05-2016 07:40 PM (7 years ago)
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una no buy am 300 naira? so why complaining
Posted: at 11-05-2016 07:40 PM (7 years ago) | Grande Master
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- rename at 11-05-2016 08:20 PM (7 years ago)
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End time increase Huh?
Posted: at 11-05-2016 08:20 PM (7 years ago) | Newbie
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- christianity at 11-05-2016 08:28 PM (7 years ago)
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 Roll Eyes Roll Eyes ::)one thing is puting the price,anoda is for u fool to be supplying it 24hrs none stop without talking abt scarcity the next day.yeye ppl Roll Eyes Roll Eyes Roll Eyes
Posted: at 11-05-2016 08:28 PM (7 years ago) | Gistmaniac
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- stannaks at 11-05-2016 08:30 PM (7 years ago)
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i love a virgina unwashed for atleast 3 days though
Posted: at 11-05-2016 08:30 PM (7 years ago) | Newbie
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- Nyakinic at 11-05-2016 09:36 PM (7 years ago)
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This man na real mumu what's the major  difference between 150 and 145 box
Posted: at 11-05-2016 09:36 PM (7 years ago) | Upcoming
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- Nyakinic at 11-05-2016 09:38 PM (7 years ago)
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Quote from: MICROPHONE MESSIAH  link=topic=294654.msg4850844#msg4850844 date=1462991004
When do we protest for all these hardship this insensitive government is causing to poor Nigerians? When? My people when?
...as in bro Nigerians are too soft after complaining we will lower our head like sheep lead to slaughter d citizens need to show some anger
Posted: at 11-05-2016 09:38 PM (7 years ago) | Upcoming
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- Raychaelle at 11-05-2016 09:50 PM (7 years ago)
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So ppl talk wit out common sense here Huh? Grin Grin
Posted: at 11-05-2016 09:50 PM (7 years ago) | Newbie
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- kabukabu at 11-05-2016 10:25 PM (7 years ago)
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That is a wonderful  news
Posted: at 11-05-2016 10:25 PM (7 years ago) | Gistmaniac
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- Eazyatumeyi at 11-05-2016 10:49 PM (7 years ago)
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hmmm I reserve my comments
Posted: at 11-05-2016 10:49 PM (7 years ago) | Hero
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- Oworen25 at 11-05-2016 10:57 PM (7 years ago)
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Na wow oh for this country, enough trekking now
Posted: at 11-05-2016 10:57 PM (7 years ago) | Hero
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- paulohking at 11-05-2016 11:11 PM (7 years ago)
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God please have mercy on us
Posted: at 11-05-2016 11:11 PM (7 years ago) | Hero
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- evilgenius at 12-05-2016 12:49 AM (7 years ago)
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 Cheesy Cheesy Cheesy Cheesy Cheesy
thank yu Buhari
we all know the right thing why tarry
at least all the billions can now go in to good roads and health facilities
thank yu buha-rich
Posted: at 12-05-2016 12:49 AM (7 years ago) | Upcoming
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- NwaDakar at 12-05-2016 12:55 AM (7 years ago)
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Abeg oh..mak somebody no vex fr here oh,i need some1 way go help explain in a simple english wetin Subsidy mean..becos somtimes dat word too the confuse me.
 
Posted: at 12-05-2016 12:55 AM (7 years ago) | Newbie
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