Nigeria: Confusion As Document Puts Petrol Price At Over N500 Per Litre

31 May 2023
Vanguard (Lagos)
By Udeme Akpan

The downstream sector of Nigeria's petroleum industry has been thrown into confusion as a document puts the retail price of petrol at over N500 per litre.

The document, obtained by Vanguard, put petrol price in Abuja, Lagos and Kano at N537, N488 and N540 per litre respectively.

The Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Mr. Farouk Ahmed, whose agency regulates sector activities, did not respond when Vanguard called repeatedly for confirmation.

But, an oil marketer, who pleaded anonymity, dismissed it as fake, adding, "How can any credible business base their pricing on an obviously fake random list circulating on social media?"

Read the original article on Vanguard.

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