Fuel Subsidy Removal: FG To Increase Price Of Petrol To New Exorbitant Amount ---The Herald Nigeria

NNPC Petrol Price may Rise to N110 per Litre

According to govrnment sources, the alleged fuel subsidy removal by the Federal Government will cause NNPC petrol price to rise to N110 per litre

The sources, who pleaded anonymity, said the government resorted to that drastic decision to end the vicious cycle of fuel scarcity crises and avoid subsidy payments.

They also revealed that the government was on the verge of discreetly giving permission to petroleum products marketers to gradually adjust their pump prices as early as midweek to signal the formal take-off of deregulation in the country

Although NNPC spokesperson, Garbadeen Mohammed, said reports of the planned introduction of deregulation by government were new to him, Premium Times reports that the deregulation of the downstream sector of the Nigerian petroleum industry is definitely forthcoming