The Federal Government has quietly approved ₦185 as the new petrol pump price per litre.
It was reported that the approved pump price was communicated to major marketers in a memo early Friday.
Fuel stations in Lagos have started adjusting their pump price to the approved ₦185 per litre.…
Petroleum-producing nations are reaping extra revenue since Ukraine’s crisis pushed global oil prices above $100 a barrel, but Nigeria, Africa’s biggest crude producer, is struggling with fuel acarcities that are causing traffic snarks across the country.
Since last year Nigerians have been battling with fuel scarcity as marketers insist that the pump must go up if the product must be available.
The federal government has earlier promised to remove the vexatious fuel subsidy by June this year, a proposal organised labour finds unacceptable.