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On December 10, 2011, if you stopped at the Mobil filling station on Old Aba Road in Port Harcourt, you would be able to buy a litre of petrol for 65 naira or $1.66 per gallon at an exchange rate of $1/N157 and 4 litres per gallon. This is the official price. The government claims that this price would have been subsidized at N73/litre and that the true price of a litre of petrol in Port Harcourt is N138/litre or $3.52 per gallon. view full text
By Dr. Izielen Agbon
image courtesy of punchng.com
Integrity Nigeria (ABUJA)
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