The Nigerian National Petroleum Company Limited (NNPCL) has warned Nigerians to prepare for more fuel scarcity.
The warning was given by Adedapo Segun, Executive Vice President of NNPCL (Downstream), during a televised interview on Thursday.
Segun’s warning comes on the heels of the recent fuel price hike, which has already caused widespread hardship across the country.
Also Read: Protest: Fuel Scarcity Looms as Oil Marketers Shut Down Stations
The NNPCL executive said there is need for a perfectly competitive market to ensure stable fuel prices and supplies in Nigeria.
[…] with his advisers, has decided to raise the VAT rate from 7.5% to 10%, at the same time the NNPCL has announced a sharp increase in PMS prices at the pump. Abubakar’s memo argues that these […]
[…] to PulseNets, NNPCL clarified that, in line with the Petroleum Industry Act (PIA), PMS prices are determined through negotiations […]
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