The Buhari administration, through the NNPC is subsidising
petrol consumption at N18.68K per litre as the Petroleum Products Pricing
Regulatory Agency (PPPRA) said that the current open price market of the
Premium Motor Spirit (PMS) as at Nov. 15 was N163.68.
A litre of petrol sells for N145 at the pump.
PPRA in its latest Petroleum Products Pricing Template said
the open market price is N18.68 higher than the N145 price fixed by the Federal
Government.
The template put the landing cost of the commodity at
N147.95 per litre, while total distribution margins of N19.37 per litre brings
the total cost of the commodity to N163.68 per litre.
The PPPRA report noted that the cost of the commodity plus
freight stood at 618.47 dollars per metric tonne, an equivalent of N141.54 per
litre.
It added that the lightering expenses and Nigerian Port
Authority (NPA), charges stood at N2.75 and N0.84 per litre respectively.
The Nigerian Maritime Administration and Safety Agency
(NIMASA) charges, according the PPPR, stood at N0.22 per litre while the Jetty
Throughput Charge N0.60 per litre and storage charge N2.00 per litre.
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