Nigeria, as at yesterday, is currently saving N647.2 million daily from the suspension of subsidy on Premium Motor Spirit, also known as petrol.
Particularly, at the current price of N86.50 per litre in petrol stations across the country, the country is making an extra N16.18 per litre.
A motorist refueling his car at a black market
The Federal Government had stated that this extra savings is kept in an escrow account to serve as a cushion in case of eventuality, such as if the price of crude oil rebounds, leading to an increase in the selling price of PMS.
Particularly, at the current price of N86.50 per litre in petrol stations across the country, the country is making an extra N16.18 per litre.
A motorist refueling his car at a black market
The Federal Government had stated that this extra savings is kept in an escrow account to serve as a cushion in case of eventuality, such as if the price of crude oil rebounds, leading to an increase in the selling price of PMS.