Fuel Scarcity In Nigeria News Today

Nigerians may pay less for premium motor spirit (PMS) also known as petrol with the recent plunge in the price of crude oil in the international market, the Petroleum Products Pricing Regulatory Agency (PPPRA) has stated.

A subsidiary of the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Marketing Company (PPMC) has taken over the task of determining the daily consumption and subsidy on petroleum products in Nigeria.

The Nigerian National Petroleum Corporation has allegedly reported to the Federation Account Allocation Committee (FAAC) that it spent N623.16 billion on under-recovery, popularly known as subsidy, from January to November 2018.

The group managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has said that the under-recovery recorded on petrol, popularly known as fuel subsidy, has dropped to N20 per litre from over N80.

Some appreciative Nigerians have applauded the President Muhammadu Buhari-led government and the leadership of the NNPC, led by its Group Managing Director, Dr. Maikanti Baru, for ensuring adequate supply of fuel.

The national president of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, on Monday, December 17, congratulated President Muhammadu Buhari on is 76th birthday celebration.