The Federal Government, through the Nigerian National Petroleum Corporation, NNPC, has spent N12.69 billion to subsidise Petrol in five days, that’s between Monday, December 16 and Friday, December 20, 2019.
The average amount paid as subsidy in with in the five days worth N32.53 per litre while the Expected Open Market Price of petrol stood at N177.53 per litre.
The Petroleum Production Pricing and Regulatory Agency stated that 390.11 million litres of petrol was supplied across the country during the period.
As at December 23, the Expected Open Market Price of petrol rose to N180.78 per litre with subsidy rising to N35.78 per litre.
