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  1. 1

    Niraj

    That is the way the subsidy works.The price of protel is set at N70 a litre. When the import price is N100 the government pays N30 as a subsidy.Now this subsidy costs a lot of money so when the price of protel falls below the list price the government gets to keep the difference. Which in this case is about N2 – N3There is a website that tells you what the actual price per litre is, but I don’t know it off the top of my head.I think it is fair because the government ate the cost when oil flew up to $150 so it should recoup some benefit when oil is now at $50.

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