President Muhammadu Buhari is under intense pressure by consultants, economic analysts as well as the World Bank to remove the subsidy on petroleum products making it imminent.
According to a report from BusinessDay, Petrol will retail at about N97 per litre if the subsidy is removed today.
The report says the commodity currently has a landing price of between N77 – N79 per litre. In addition to transport to pumphead, marketers and other margins account for about N18.
With that, queues from fuel stations nationwide are expected to disappear.
Nigeria has been adversely affected by the issue of fuel scarcity in recent times with mixed reactions towards the removal of fuel subsidy due to its toll on the masses.