Nigeria may pay more than N200 per litre for petrol in April

By TERHEMBA DAKA, Abuja

Indications have emerged that Nigerians may likely pay more for petrol in April.

This was disclosed Thursday by the Group General Manager (GMD) of the National Petroleum Corporation (NNPC), Mele Kyari while reacting to a question about the status of petrol’s pump price in the country.

Kyari spoke during the weekly presidential ministerial media briefing held at the presidential villa, Abuja.

He said the NNPC absorbs the cost differential which is recorded in its financial books.

He also said the NNPC pays between N100-120 billion a month to keep the pump price at the current level, insisting that market forces must be allowed to determine the pump price of petrol in the country.

He explained that while the actual cost of importation and handling charges amounts to N234 per liter, the government is selling at N162 per liter.

He, however, said the NNPC can no longer afford to bear the cost, adding that sooner or later Nigerians would have to pay the actual cost for the commodity. ( The Guardian)