FG removes subsidy, petrol to sell for N145 per litre

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The Federal Government has finally removed subsidy from sale Premium Motor Spirit, popularly known as petrol, with immediate effect, Vanguard reports.

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Vanguard said Nigerian National Petroleum Corporation sources on Wednesday afternoon said marketers are now free to bring in cargoes and sell, subject to meeting standard quality control.

It, however, added that a benchmark of N145 per litre, as a recommended pump price, at which any trader, irrespective of the source of foreign exchange used, to import cargo, is guaranteed adequate profit.

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