The NNPCL had on Wednesday increased fuel pump price to N1030 per liter in the Federal Capital Territory. Reacting to the latest fuel price hike, the minister attributed it to global energy market conditions. He clarified that the NNPCL’s decision was not influenced by the government but by market forces in line with the Petroleum Industry Act .
reports that the Nigeria Labour Congress, NLC, condemned the latest fuel price hike and called for immediate reversal. Similarly, the Centre for the Promotion of Private Enterprise said that Nigeria is not ripe for complete deregulation of the Petroleum sector.
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