The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru says the Federal Government is paying N26 per liter for fuel subsidy.
He made the revelation in Abuja on Sunday, adding that the #fuelscarcity would end in the next two days.
This he said was due to measures it has taken including the activation of the ‘Fuel War Room’ (FWR).
According to him, the current Landing Cost of Premium Motor Spirit (PMS) is N171 per litre, and that at N145 per litre, the Federal Government is paying N26 per litre as subsidy.
“Major marketers were also advised to carry out 24-hour operations, most of whom have been complying,” Baru noted.
“This has increased load-out from the Depots significantly and continuous sales at the filling stations nationwide.”
He noted that the Nigerian Navy, Nigerian Ports Authority (NPA), Customs and the Nigerian Maritime Administration and Safety Agency (NIMASA) are expediting the clearance of fuel vessels and anchorage services to facilitate speedy product transfers to various depots even at the weekend and public holidays.