Nigeria: Finally, Govt Hands Off Pricing of Petrol

5 June 2020

Abuja and Lagos — The federal government thursday proceeded with the full deregulation of the downstream petroleum sector with the removal of the existing cap on petrol price, urging marketers to import and sell the product according to the dynamics of the forces of demand and supply.

This is coming as the Nigerian National Petroleum Corporation (NNPC) yesterday blamed insecurity in the Niger Delta and other factors peculiar to Nigeria's operating environment for the high cost of oil production in Nigeria.

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