Business Nigeria: Petrol is Expensive Again; Subsidy Rises to N48/Litre

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Nigeria - The landing cost of Premium Motor Spirit, otherwise known as petrol, was put at N119.66 per litre as of Tuesday, up from N75.15 on January 23, PUNCH reports.

It increased by N1.07 from N118.59 per litre on Monday, according to data obtained from the Petroleum Products Pricing Regulatory Agency.

The daily subsidy on petrol, therefore, rose to an eight-month high of N48.15 per litre on Tuesday, compared to N3.64 on January 23, the agency’s pricing template showed.

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#Nigeria #Petrol

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