After Deregulation News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Udeme Akpan THERE were indications, Monday, that stakeholders would soon emerge with a new price of petrol as the landing cost of the product rose from N151 to N180 per litre, due mainly to rising price of crude oil in the international market. The rise of crude oil price from $58 to more than $63 per barrel, yesterday, culminated in refiners incurring additional cost in the process of procuring, refining and supplying petrol to consumers, thus causing marketers to also incur additional cost, especially as a bulk of the product is currently imported into the nation. Nevertheless, it was ga...

By Peter Uzoho Marketers of petroleum products under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have called for a joint action of stakeholders in the Nigeria economy to find ways to mitigate adverse effects of the imminent increase in the price of petrol. The marketers’ cartel also canvassed for the replication of the current measure to cut cost of operation in the country’s oil and gas industry to the entire spectrum of the economy, especially governance. The Chairman of MOMAN and Managing Director of 11Plc, Mr. Tunji Oyebanji, advanced the positions of the associati...