Petrol consumers may pay about N8.4tn for Premium Motor Spirit, popularly called petrol, between July and December 2023 once the Federal Government stops subsidy on PMS in June, latest findings and industry data showed. This represents about 250 per cent increase from the N2.4tn PMS consumers would spend during the period if the government chose to retain the subsidy regime. Oil marketers explained that the average cost of petrol could rise to about N700/litre from July, should fuel subsidy be brought to an end in June as projected by the…
Read MoreSubsidy Removal: Spending On Petrol May Jump 250% To N8tn
