IPMAN Divided Over Fuel Subsidy Removal

By Adedapo Adesanya

The removing of gasoline subsidy by President Bola Tinubu has led to a hike within the worth of premium motor spirit, in any other case often called petrol, throughout the nation, and now, the Nigerian Nationwide Petroleum Firm (NNPC) Restricted at its retail stations has launched the costs that it’ll promote throughout the nation.

The value listing seen by Enterprise Submit on Wednesday confirmed that there can be totally different costs that Nigerians will purchase throughout every of the 36 states and the Federal Capital Territory, Abuja.

The bottom retail worth will likely be within the business metropolis of Lagos, the place it set a benchmark of N488 per litre.

In neighbouring southwestern states of Ogun, Oyo, Osun, Ondo, and Ekiti, petrol will go for N500 on the firm’s retail stations.

It will likely be a harder state of affairs in Nigeria’s conflict-ridden Northeast, the place the costs, because of logistics and different tariffs, will likely be dearer, with Borno and Yobo paying as little as N557 per litre for PMS. In Adamawa, Taraba, Bauchi, and Gombe, the commodity will promote for N550 per litre.

Within the Northwestern states of Kano, Katsina, Kaduna, Sokoto, Jigawa, and Zamfara, petrol will go for a worth of N540/$1 whereas will probably be greater at N545 in Kebbi state.

Within the Northcentral states, the capital metropolis will promote for N537 per litre in addition to in Nasarawa, Plateau, Kogi, Niger and Benue. For Kwara state, because of its proximity to the South West, costs will go for N515/litre.

Within the South East states of Anambra, Enugu, and Ebonyi, the uniform worth of N520 per litre was set, whereas Abia and Imo will promote at a value of N515/litre.

In the meantime, within the South-South, Rivers, Cross River, Edo, and Delta had been pegged at N511 per litre, however for Akwa Ibom and Bayelsa, the state oil firm set a retail worth of N515 per litre.

That is coming a day after the Group Managing Director of the NNPC, Mr Mele Kyari, lamented the funding constraints on the operations of the NNPC, particularly money owed owed for earlier subsidy funds.

“We’re not in a position to hold a few of this money to put money into our core companies. And the tip result’s that it may be an enormous problem for the corporate and we now have highlighted this a number of occasions to the federal government,” he stated.