Lets do arithmetic on Nigerias Oil When crude oil was sold at $100 a barrel, the landing cost without subsidy was N125 a litre. With the subsidy, PMS known as petrol is sold N97 a litre. Since the price of crude oil is now sells at less than $50 a barrel, the landing cost should be N50.75 a litre without subsidy and is still sells at N97:00k a litre. In addition, with the crash in price with subsidy N87:00 a litre even in the announcement of reduction, the actual price of PMS should be N45.59k a litre. Do the difference and see how much you are...
Posted on: Tue, 20 Jan 2015 10:08:22 +0000
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