Petrol subsidy is back. The Nigerian National Petroleum Corporation has been offsetting for months the difference between the landing costs of petrol and the pump price.
In series of interviews with knowledgeable players in the sector, NAN can report authoritatively that the landing costs per litre of petrol is higher than the price Nigerians pay at the pump.
According to a source, who is a staff of the Ministry of Petroleum Resources, government being a listening one has been quietly bearing the differential.
“The landing costs hovers around N160 to N165. The marketers buy from us and so the government bears it because it feels it will be unfair to make the consumer pay the difference.
“With the current recession, the government will not want to burden the people with a price hike,’’ the source said.
Both the NNPC and the government are also…
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