FG disburses N173bn for nationwide fuel price equalization amid persisting scarcity

The Federal Government disbursed about N173.2 billion for equalizing over 11.6 billion litres of Premium Motor Spirit, popularly called petrol, from 2019 to 2022, data obtained from the Federal Ministry of Petroleum Resources on Tuesday disclosed.

A document from FMPR in Abuja on the ministry’s scorecard since 2019 showed that over N173.2 billion had been disbursed to equalize the cost of petrol nationwide.

Despite this effort, the prices of petrol vary across the country.

Other than Abuja and Lagos selling PMS for 179-180 per litre, in many states such as Enugu, Abia, Kogi, Niger, Delta and Edo, the product goes for 230-250 per litre.

Also, getting fuel has remained challenging in Nigeria’s major cities for years.

But, the Minister of State for Petroleum Resources, Timipre Sylva, disclosed that the government is doing its best to curb fuel smuggling, address the scarcity and cut down on pump price variation.

He said, “11,622,926,494 litres (of PMS was) equalized. N173,200,284,779 (approx.) equalization paid. 1,277, supplying vessels tracked. 25,525,688,042 litres of total PMS discharged.”

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