FG retains N97 fuel price subsidy, despite crash in crude oil price

The Federal Government has not yet reviewed the price of petrol despite the lull in oil market which culminated in the price of crude oil falling from over $100 per barrel to $83 per barrel in the global market.


A market survey conducted in Lagos and its environs yesterday showed that all retail outlets still sell petrol at N97 per litre.

Specifically, the survey showed that both the independents and majors, including Mobil, Oando, MRS, Conoil, and Forte still sell at the product at government pegged price.

The spokesman of NIPCO, Mr. Lawal Taofeek in a telephone interview that petrol was still sold at the government regulated price of N97 per litre.

A dealer who preferred not to be named because he was not permitted to speak stated, “We are still selling petrol at the price of N97 per litre because we do not have directive to do otherwise.”
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Credit: nationalmirroronline.net