FG plans to pay the subsidy on Premium motor spirit (PMS) from the returns of the first Quarter of 2016.
The federal Government was able to save 10 billion naira after sales of the product went above the original price.
Petrol actually rose to as high as N99.38 per Litre for independent and major oil marketers and N98.62 per litre for NNPC retail outlets.
The current price of N86 per litre at NNPC outlets was a result of N12.62 per litre as Subsidy on the product.
Okay Naija, way to go...