Something To Cheer About? Cash Spent By FG On Fuel Subsidy Drops By Over 70%

The amount of subsidy being spent by
government on premium motor spirit otherwise known as petrol has dropped by more than 70 per cent amid the falling oil prices in the last one month.

Approved prices for premium motor spirit otherwise known as petrol as of December 8, 2014 shows a reduction of the landing cost of the product to N98.15 per litre from N127.57
on November 3, according to data from the Petroleum Products Pricing Regulatory Agency.

The expected open price market price and subsidy as of December 8 were put at

Read More...http://talkafrica.co/ng/p/9521/federal-government-spending-on-fuel-subsidy-drops-by-70
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