Petroleum marketers have said the Nigerian government has completely removed the subsidy on Premium Motor Spirit (petrol), which is the reason the Nigerian National Petroleum Company Limited increased the price of the product to N1,030 and N998 per litre in Abuja, Federal Capital Territory, and Lagos State.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, disclosed this to DAILY POST exclusively on Wednesday.
Ukadike was reacting to the latest fuel price hike across NNPC outlets.
DAILY POST reports that NNPCL retail outlets on Wednesday adjusted their fuel pump price from N897 per liter to N1,030.
This comes weeks after NNPCL increased its fuel pump price to N897 per liter from N617.
Reacting, Ukadike said, “It is a price template that shows that the total deregulation of the oil and gas sector and the implementation of the Petroleum Industry Act have taken off.”
