FG Removes Fuel Subsidy – Fuel Now 141 Naira Per Litre

The federal government of Nigeria in a statement released today announced the removal of fuel subsidy.
According to the Petroleum Products Pricing Regulatory Agency (PPPRA), a litre of petrol will now sell for N141.
The statement released by PPRA reads:
Following extensive consultation with stakeholders across the nation, the Petroleum Products Pricing Regulatory Agency (PPPRA) wishes to inform all stakeholders of the commencement of formal removal of subsidy on Premium Motor Spirit (PMS), in accordance with the powers conferred on the agency by the law establishing it, in compliance with Section 7 of PPPRA Act, 2004.

By this announcement, the downstream sub-sector of the petroleum industry is hereby deregulated for PMS. Service providers in the sector are now to procure products and sell same in accordance with the indicative benchmark price to be published forthnightly and posted on the PPPRA website.

Petroleum products marketers are to note that no one will be paid subsidy on PMS discharges after 1st January 2012.

Consumers are assured of adequate supply of quality products at prices that are competitive and non-exploitative and so there is no need for anyone to engage in panic buying or product hoarding.
The PPPRA in conjunction with the Department of Petroleum Resources (DPR) will ensure that consumers are not taken advantage of in any form or in any way.

The DPR will ensure that the interest of the consumer in terms of quality of products is guaranteed at all times and in line with international best practice.

In the coming weeks, the PPPRA will engage stakeholders in further consultation to ensure the continuation of this exercise in a hitch-free manner.

Signed:

Reginald Stanley
Executive Secretary, PPPRA.
What do you think about this?

17 COMMENTS

  1. It is so easy to say but putting it in action might going to be a problem. Have we realised that fuel contributted to 70% of employers of labour most expecially these days where NEPA light is not constant…… This removal of subsidy might cause unemployment, increase in crime rate, school drop out, much inconveniency for the police to combat crime, suppresion and other related crime,……. though GOD forbid…….. My point is that: how are we sure that the government will be able to control this situation? You must know that it has happen before whereby the government can only control the situation up to a certain period and there it collasp,…… GOD forbid. My conclussion is that: the removal of fuel subsidy is not a good ideal at all……

  2. It is so easy to say but putting it in action might going to be a problem. Have we realised that fuel contributted to 70% of employers of labour most expecially these days where NEPA light is not constant……… This removal of subsidy might cause unemployment, increase in crime rate, school drop out, much inconveniency for the police to combat crime, suppresion and other related crime,……. though GOD forbid…….. My point is that: how are we sure that the government will be able to control this situation? You must know that it has happen before whereby the government can only control the situation up to a certain period and there it collasp,…… GOD forbid. My conclussion is that: the removal of fuel subsidy is not a good ideal at all……

  3. ” We officially announce to you that the Federal Government formally remove fuel subsidy. Fuel now sells for 141 naira ”. God 4giv u ppl 4 dat statement. Do u knw hw much I use 2 pay 4rm Ikom in Cross River 2 Abakaliki enroute 2 Nsukka in Enugu state? Commuters wuld suffer most in dis fuel subsidy removal. Hw much is d salary of an individual? Mr. President, d suffering of d poor masses hav bin legalise by dis action of gudwil. God help us.

  4. In most states, too, insurers set rates by zip codes. If you live in a major city like Chicago or Los Angeles, you will probably pay more than if you lived in a nearby suburb but still check “Clearance Auto” to find the lowerst rate

  5. fuel subsidy,if i must frankly say a word it will be to our honorable president jonathan Goodluck that is to say what is troubling ur heart is over expansion,the country is having issues on security and other critical areas and then it is subsidy you are battling with,why create a problem you cannot handle,i dont think your joy is to ear of increase in crime rate,surplus of unemployment,and other heart breaking stories,when our refinaries are not functioning why not solve that. What is the income rate of an average Nigerian that can afford to buy fuel for N141 per liter,we all know that over 70% are using this fuel to generate electricity and motorist are over 96%. I beg the federal govt and the cabinet of this administration pls pray before chosing any decision,a concern citizen. God help and bless Nigeria.

  6. Mr. President Sir, d worst harm culd com 4rm d best intention. As u hav finally removed fuel subsidy, so therefore I enjoin u 2 xtend is 2 oda areas lyk salary subsidy,alcohol subsidy,importation subsidy,xportation subsidy, u want d list? It’s endless. If u do dis, I believe u r unbiased. God bless Cross River State, God bless South South region, God bless d Federal Republic of Nigeria.

  7. Nigeria is a rotten nation with rotten baby leaders in napkin and feeding bottles who take decision without consideration of d end limits of their actions. How many of those folks can afford the cost if they were not given d mandate to be in power! I think its high time there is a revolution in this nation. Were these robbers are duely chased out.

  8. I think d FG shuld think b4 carrying dis dastardly act they call ‘removal of fuel subsidy’.How much does an average Nigerian earn…?Only God will save us frm dis unwarranted hardship d gvt is imposing on us. God bless naija

  9. God alone in heaven will judge Badluck Ebele Jonathan,since he said he is ready to face the masses,forgetting who put him there,forgotten when he told us he ain’t gat shoes on his feet,how poor he’s family was,how he suffered even when there was no fuel subsidy,bt now there is subsidy those that are living lyk him(past),how wil they survive? NEVER 4GET WHERE YOU CAME 4RM

  10. Mr president,u hav succeded in makin more money availabl 2 ur classical armless robers such dat they hav more than enough 2 loothe @ d expence of d poor masses in d abyss of poverty.empty ur hands jointly wit ur colleagues 2 recieve what ever omen dat wil acrue due 2 dis concensus.u may not b ”goodluck” dis time but ”badluck”

  11. If d removal wil hlp in developin d country,its den highly welcm.pple complanin of povty do u want gudluck 2 cum 2 ur house and fed u.thre are many job go fix ur selvs sum whr.ghana is sellin 185 per lit.mr presidnt subsidy removal is highly wlcm.

  12. @mina,go 2 Aje areas or Orile or Ojuelegba n u wuld sing a different song let alone d area I am. He once had no shoes,so it has bcom a thing dat I cant get mine anymore bcuz of d fuel subsidy. Mtchew!!

  13. It is a pity that the ordinary Nigerians continue to suffer the anguish of visionless and empty leaders that always find a cheap way to get more money to steal and waste instead of creating sensible le wealth for the nation. Jonathan and the privileged few working with him should note that deregulation without creating an enabling environment (e.g. power, good roads etc) that can cushion the effect amounts to willfully reducing the capacity to survival of the ordinary Nigerian. Nigerians are awaiting the positive impact that the Government promised will be felt by them, But I have no doubt in my my mind that deregulation for sure is more money for the Government officials to mismanage and steal at the expense of the ordinary Nigerian. I believe in Deregulation but with visible and formidable elements on ground to cushion the effect. How do you deregulate the PMS when every Nigeria Home run their lives on generator, every small business even to barbing saloon run on generator or where the transportation and commuting is entirely in the hand of private investors and more importantly a nation saddled with inability to create employment for Nigerians. Jonathan and the few guys working with him should note that the corruption within their rank and file almost makes it clear that this policy will definitely be the greatest challenge to this administration, Nigerian are watching.

  14. Mr president is in the line opposite of his promise, but let him now dat nobody espect him to do this and leave what to do being under the sun to cast vote for him,He is the worst president we had in this countory for now. IBB is better than him. God for the poor will never forgive him,& dont forget judgement day will surely come.

  15. Haba gudluck y alot northern use u lyk a fool.they say u shud remve fuel subsidy u knw y,cuz they want 2 turn ur pple against u hmmm loks lyk their plan is workin.u can stil put dem 2 shame by puttin it bck.i wil nt protest cuz i knw wat up…………

  16. Pls president put ur self in de shoe of de masses we elected u becos u knw wat it means 2 be poor an nw u hve let us down by acepting what those dat hve not tested poverty b4,were i use 2 pay transport 50 is now 250 pls hear de cry of de poor masses by putin it back .

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