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Good news: Petrol price drops in some states (See list)

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– National Bureau of Statistics (NBS) monthly report on price of PMS shows that petrol is sold below the official pump price in Kastina state

– NBS states that PMS is sold above the pump price in Yobe and Taraba states

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The recent reports by the NBS notes that Kastina, Borno and Jigawa states sold petrol below the official pump price.

The National Bureau of Statistics (NBS) has listed a number of sates where premium motor spirit (PMS) popularly known as petrol was sold below the official pump price in the month November.

According to the PMS Price Watch report released by the NBS, petrol is sold for at N 143.8 per litre in Kastina state.

Other states that had the product at below benchmark price are Borno and Jigawa where it was sold at N144, and 144.3 respectively.

The NBS also identified some states that sold PMS far above the benchmark mark price, leading in that order is Yobe state, in north east Nigeria which recorded the highest price of N162.0 per litre of petrol.

Taraba emerged the second state that sold the product above government recommended price of N145/ litre, selling at N150.8/ litre in the state, while in Cross River state it sold for N150.4/ litre.

The Bureau said that the average price of PMS within the period under review stood at N146.7 compared to an average of N 145.9 witnessed in October.

It said in October, Osun, Plateau and Gombe states sold at the lowest prices of N 144.3, N 144.5 and N 144.7 respectively.

The report presents average monthly prices of PMS consumed by households across the 36 states and the FCT.

Meanwhile, Vice President Yemi Osinbajo on Thursday, December 15, disclosed that the fuel subsidy removal has offset a burden of not less than N15.4 billion monthly from the federal government, NAN reports.

Osinbajo made this known in Abuja during the 2016 presentation of scorecard of the ministry of petroleum resources and agreements signing ceremony for Joint Venture Cash Calls (JVC) exit.

Represented by Abubakar Malami, attorney-general of the federation and minister of justice, Osinbajo said that $15 billion would be injected into the sector.

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