What do you believe is the single most important factor driving up the cost of living in Nigeria?

The Nigerian government pays an average of N501.47 as subsidy on each litre of petrol, in at least eight Nigerian cities, PREMIUM TIMES can report. The subsidy payment is replicated across the remaining states of the federation.

A Premium Motor Spirit (PMS) data pricing framework based on one trading day price on 21 August 2024 reviewed by this newspaper showed that the government was paying about N501.47 as subsidy on each litre in the eight cities.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) document, obtained from sources at the agency, provides insight into the subsidy payment differentials in major Nigerian cities.

The revelation is coming against the background of the government’s repeated denial of subsidy payments.

The NMDPRA is the agency responsible for the regulation of the midstream and downstream petroleum operations in Nigeria which includes technical, operational, and commercial activities.

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