Rising Petrol Prices Are Result Of Allowing Market To Regulate Itself–Nigerian National Petroleum Company | Sahara Reporters

  • 📰 SaharaReporters
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the recent rise in petrol pump prices in Nigeria is caused by market forces. It was earlier reported that NNPCL mega-filling stations in Abuja had adjusted the price of petrol from N539 to N617 per litre.

Rising Petrol Prices Are Result Of Allowing Market To Regulate Itself–Nigerian National Petroleum CompanyIt was earlier reported that NNPCL mega-filling stations in Abuja had adjusted the price of petrol from N539 to N617 per litre.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said that the recent rise in petrol pump prices in Nigeria is caused by market forces.It was earlier reported that NNPCL mega-filling stations in Abuja had adjusted the price of petrol from N539 to N617 per litre.

“When you go to the market, you buy the product, you come to the market and sell it at its prevailing market price. It has nothing to do with supply. We don’t have supply issues.“We have a robust supply. We’ve had over 32 days of supply in the country. That’s not a problem,” he explained.The CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, also addressed journalists, saying the price hikes were caused by market forces. SaharaReporters.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BREAKING: Nigerian Petroleum Company, NNPCL Increases Fuel Price To N617 Per Litre | Sahara ReportersThe price of Premium Motor Spirit popularly known as fuel has risen to about N617 per litre as the controversy and the hard effects of subsidy removal by the Nigerian government continue to hit Nigerians. A visit to a Nigerian National Petroleum Company Limited (NNPCL) mega filling station in the Central area of Abuja on Tuesday confirmed that the fuel price had been adjusted from N539 to N617 per litre.
Source: SaharaReporters - 🏆 9. / 63 Read more »

Fuel hike: NNPC attributes increase in PMS price to market realitiesThe Nigerian National Petroleum Company Ltd., has attributed the increase in the price of Premium Motor Spirit (PMS) also known as petrol to the market
Source: DailyPostNGR - 🏆 11. / 59 Read more »