The fuel price in Nigeria has hit a new high of N1,900/litre as depot prices surge despite the Nigerian National Petroleum Corporation (NNPC) cutting its prices by 25%. The Federal Government announced a 30-day discount on petrol sold by NNPC, but this did not help to ease the situation. The government is now negotiating with oil companies to set a ₦1,350 petrol price ceiling as global oil shocks continue to drive pump prices up.
Nigeria’s Fuel Prices Hit New High as Depot Prices Surge
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