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Nigeria gasoline prices skyrocket as private companies enter fuel import game | Hellenic Shipping News Worldwide

Nigeria gasoline prices skyrocket as private companies enter fuel import game | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

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Private cabals return as Nigeria fuel prices skyrocket, local refineries crippled

Previously the NNPC was the sole importer of gasoline, using crude swap contracts, but now 56 private firms have been licensed to import gasoline, with 10 of them approved to supply products in the third quarter of 2023. Nigeria has three oil refineries but none of them is operationa With Nigeria still dependent on fuel | ....

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Nigeria's economic turmoil worsens as experts blame price spike on rising global oil prices and weak naira.

Gasoline prices up 26% since subsidy scrapped May 30 56 private companies have applied to import fuel NNPC head blames 'market forces', claims 32-day stocks Experts blamed the price rises on rising global oil prices and a weak naira. The price of gasoline has jumped 26% in Nigeria since new president Bola Tinubu ended a | ....

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