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Petroleum subsidy is harmful to the economy
Fuel subsidy, an issue which has been dominating national debate for decades, came under focus last week following a claim by the Nigerian National Petroleum Corporation (NNPC) that its projected monthly remittance to the federal accounts allocation committee (FAAC) for May will be zero. In a letter to the accountant-general of the federation, the NNPC says it can no longer bear the burden of underpriced sales of premium motor spirit (PMS), better known as petrol, to consumers in the country. According to NNPC, the PMS cost for the month of March 2021 was N184 per litre against the subsisting ex-coastal price of N128 per litre, “which has remained constant notwithstanding the changes in the macroeconomic variables affecting petroleum products pricing”. ....

Nigerian National Petroleum Corporation , Global Energy Architecture Performance Index , National Assembly , National Economic Council , நைஜீரியன் தேசிய பெட்ரோலியம் நிறுவனம் , உலகளாவிய ஆற்றல் கட்டிடக்கலை செயல்திறன் குறியீட்டு , தேசிய சட்டசபை , தேசிய பொருளாதார சபை ,