The importation of Premium Motor Spirit (PMS) into Nigeria is to gulp
extra cost of over N2.369 billion per day from Federal Government and
marketers as the landing cost for fuel has soared to N212.7 per liter.
This came as oil prices hit their highest levels since July 2015 with
Brent reaching $58.37 and $55.24, before paring gains on the strong
dollar.
Buoyed by this, the Federal Government, checks by New Telegraph showed yesterday, is already mulling total deregulation of the downstream sector.
While the modulated bracket of N135-N145 is given as official price for fuel, checks showed that extra N67.7 is incurred on over 35 million litres daily imports as the landing cost soared to N212.7 per litre.
Buoyed by this, the Federal Government, checks by New Telegraph showed yesterday, is already mulling total deregulation of the downstream sector.
While the modulated bracket of N135-N145 is given as official price for fuel, checks showed that extra N67.7 is incurred on over 35 million litres daily imports as the landing cost soared to N212.7 per litre.