Nigerian independent oil marketers raise petrol price to N1,200 per liter after petroleum sector deregulation.

Independent oil marketers in Nigeria have raised the petrol price to an average of N1,200 per liter, following the deregulation of the petroleum sector. This change allows the Nigerian National Petroleum Company (NNPC) to end its exclusive purchasing agreement with Dangote Refinery, enabling other marketers to buy petrol directly from the refinery. This move aligns with practices for fully deregulated products, enhancing market competition.

October 09, 2024
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