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Petrol landing cost rises to N186.33 per litre


The landing cost of Premium Motor Spirit (petrol) imported into Nigeria has increased to N186.33 per litre.‎
Crude oil price accounts for a large chunk of the final cost of petrol, and the deregulation of petrol price by the Federal Government in 2020 means that the pump price of the product will reflect changes in the international oil market.‎
Going by the petrol pricing template of the Petroleum Products Pricing Regulatory Agency, the landing cost of petrol rose to N186.33 per litre on February 16, with the pump price of the product expected to be N209.33 per litre.
The international oil benchmark, Brent crude, closed at $63.96 per barrel on February 16, up from $59.34 per barrel on February 5. ....

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Spirit Aero revenue halves, flies into loss as Boeing troubles weigh


By Reuters Staff
2 Min Read
(Reuters) - Spirit AeroSystems Holdings Inc was hit by troubles at top customer Boeing, driving the aircraft parts maker to report a 55% slump in quarterly revenue and a much bigger-than-expected loss on Tuesday.
FILE PHOTO: The headquarters of Spirit AeroSystems Holdings Inc, is seen in Wichita, Kansas, U.S. December 17, 2019. REUTERS/Nick Oxford
Spirit gets a big chunk of its revenue from Boeing Co, which was forced to cut back production due to the grounding of its 737 MAX jet and a slump in air travel due to the pandemic.
The MAX was finally cleared late last year to fly after being grounded for nearly two years and Spirit hopes to benefit from a ramp-up in production at the planemaker. ....

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