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The Nigerian National Petroleum Corporation, NNPC, has stated the price of Premium Motor Spirit, PMS, within the nation should be N256 per litre.
Mele Kyari, Group Managing Director, GMD, of NNPC disclosed this whereas showing on Channels Television yesterday.
Kyari famous that there’s nowhere on this planet the place Diesel sells greater than petrol.
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The NNPC boss acknowledged that the petrol pump value is supposed to replicate the present crude oil value which stands at $74.40 per barrel at the worldwide market.
He stated: “Today we’re paying N162/litre (for petrol). I’m positive many individuals buy AGO (Diesel) available in the market and it’s promoting at N280/litre available in the market Today.
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“So (there may be) nowhere on this planet diesel sells costlier than PMS. That signifies that the value of petrol anyplace on this planet, assuming you will promote it at the market, you will promote it above that value you’ve seen.
“Today, from what I can remember, I checked the number two days ago; what would we sell if we are at the filling station today and recover our cost fully is around N256/litre.”
Kyari additionally disclosed that the federal government was negotiating with the Nigerian Labour Congress (NLC) over the price of petrol.
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Meanwhile, Kyari had acknowledged that the shortcoming to discover a appropriate value for petrol is answerable for the continued subsidy scheme.
The NNPC is presently the one official importer of petroleum merchandise into Nigeria.
Nigerians should buy petrol at N256 per liter – NNPC boss, Kyari
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