Nigeria: As New Fuel Price Regime Begins Today allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Investors and marketers in the oil and gas sector have also said the federal government is not clear on whether deregulation has been jettisoned with the announcement last week by the Minister of Labour and Employment, Senator Chris Ngige, of N5 cut in a litre of fuel pump price. They urged the government to explain the true situation of things.
After tinkering with the idea for several months, the Muhammadu Buhari-led administration announced in the thick of the coronavirus pandemic that it would no longer pay subsidy on fuel.
The Minister of State for Petroleum Resources, Timipre Sylva, said in May that international crude oil price would be used as the basis for determining pump price in the country, and that marketers would be given the freedom to fix the price however they wanted.
Oil and Gas stakeholders ask government to grant access to CBN FOREX market and importation of petroleum products nairametrics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairametrics.com Daily Mail and Mail on Sunday newspapers.